Resus Energy : Quarterly Financial Statements as of 31 December 2021

Resus Energy PLC

Interim Report

03rd Quarter 2021-2022

RESUS ENERGY PLC

Interim Report 03rd Quarter 2021-2022

Provisional Financial Statements

STATEMENT OF FINANCIAL POSITION - GROUP

	31.12.2021		Audited
	31.03.2021	31.12.2020
ASSETS	Rs.		Rs.		Rs.
Non-current assets
Property, plant and equipment	4,147,804,911	3,263,579,519	2,993,999,477
Right of use asset	38,087,411	40,993,520	41,010,635
Intangible assets	197,484,944	197,484,944	197,484,944
Deferred tax assets	20,334,316	20,334,316	4,012,129
Current assets	4,403,711,582		3,522,392,299		3,236,507,185
Inventories	12,787,390	8,717,792	8,537,792
Trade and other receivables	556,485,934	336,836,790	550,382,308
Income tax recoverable	4,028,295	4,717,876	4,717,870
Cash and cash equivalents	38,352,051	8,426,576	46,970,768
Total Assets	611,653,670		358,699,034		610,608,738
5,015,365,252		3,881,091,333		3,847,115,923
EQUITY AND LIABILITIES
Equity
Stated capital	773,891,366	773,891,366	773,891,366
Other components of equity	6,949,461	6,949,461	6,949,461
Retained earnings	871,110,224	453,430,493	380,745,211
Equity attributable to equity holders of the parent	1,651,951,051		1,234,271,320		1,161,586,038
Non-controlling interest	-	-
Total Equity	1,651,951,051		1,234,271,320		1,161,586,038
Non-current liabilities
Interest bearing loans and borrowings	2,003,597,866	1,498,124,375	1,695,876,426
Lease liability	36,369,988	33,951,599	45,489,971
Retirement benefit obligations	28,509,688	26,556,779	22,621,139
Deferred tax liabilities	19,885,510	19,885,510	28,330,077
	2,088,363,052		1,578,518,263		1,792,317,613
Current liabilities
Trade and other payables	229,899,516	101,583,129	172,161,110
Lease liability	9,473,637	9,473,637	2,994,192
Income tax liabilities	-	-	-
Interest bearing loans and borrowings	643,956,595	580,570,290	359,292,940
Bank overdrafts	391,721,401	376,674,694	358,764,030
Total Equity and Liabilities	1,275,051,149		1,068,301,750		893,212,272
5,015,365,252		3,881,091,333		3,847,115,923
Net assets per share	20.90	15.62	14.70

The above figures are provisional and subject to audit.

These Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.

……………………………

P.R.A.I. Gunarathna

Head of Finance

The Board of Directors is responsible for the preparation and presentation of these Financial Statements. Signed for and on behalf of the Board by,

……………………………………	……………………………….
G.A.K. Nanayakkara	H.A.S. Madanayake
Managing Director	Chairman
09 February 2022

RESUS ENERGY PLC

Interim Report 03rd Quarter 2021-2022

Provisional Financial Statements

STATEMENT OF FINANCIAL POSITION - COMPANY

	31.12.2021		Audited
	31.03.2021	31.12.2020
ASSETS	Rs.		Rs.		Rs.
Non-current assets
Property, plant and equipment	1,172,432,425	1,191,791,645	1,196,403,535
Right of use asset	11,425,301	13,258,304	12,917,717
Intangible assets	126,752,566	126,752,566	126,752,566
Investments in subsidiaries	736,643,125	736,643,125	613,313,155
Deferred tax assets	19,113,348	19,113,348	-
Current assets	2,066,366,765		2,087,558,988		1,949,386,973
Inventories	10,298,537	7,365,231	7,185,231
Trade and other receivables	454,158,798	374,171,983	537,313,450
Income tax recoverable	2,057,661	2,747,243	2,747,243
Cash and cash equivalents	35,266,969	4,871,581	45,238,027
Total Assets	501,781,965		389,156,038		592,483,951
2,568,148,730		2,476,715,026		2,541,870,924
EQUITY AND LIABILITIES
Equity
Stated capital	773,891,366	773,891,366	773,891,366
Other components of equity	5,194,210	5,194,210	5,194,210
Retained earnings	423,318,693	208,561,043	157,386,167
Equity attributable to equity holders of the parent	1,202,404,269		987,646,619		936,471,743
Non-controlling interest	-	-
Total Equity	1,202,404,269		987,646,619		936,471,743
Non-current liabilities
Interest bearing loans and borrowings	395,911,706	557,022,607	797,552,614
Lease liability	7,755,124	6,942,234	10,266,219
Retirement benefit obligations	27,933,462	25,980,554	22,353,140
Deferred tax liabilities	-	-	13,295,603
	431,600,292		589,945,395		843,467,576
Current liabilities
Trade and other payables	177,505,268	167,393,861	234,719,800
Lease liability	4,242,827	4,242,827	2,994,192
Interest bearing loans and borrowings	490,417,165	414,466,311	222,743,373
Bank overdrafts	261,978,909	313,020,013	301,474,240
Total Equity and Liabilities	934,144,169		899,123,012		761,931,605
2,568,148,730		2,476,715,026		2,541,870,924
Net assets per share	15.21	12.50	11.85

The above figures are provisional and subject to audit.

These Financial Statements are in compliance with the requirements of the Companies Act No. 07 of 2007.

……………………………

P.R.A.I. Gunarathna

Head of Finance

The Board of Directors is responsible for the preparation and presentation of these Financial Statements. Signed for and on behalf of the Board by,

……………………………………	……………………………….
G.A.K. Nanayakkara	H.A.S. Madanayake
Managing Director	Chairman
09 February 2022

RESUS ENERGY PLC

Interim Report 03rd Quarter 2021-2022

Provisional Financial Statements

STATEMENT OF PROFIT OR LOSS - GROUP

	Three Months Ended 31st December	Nine Months ended 31st December
	2021	2020	Change %	2021	2020	Change %
	Rs.		Rs.	Rs.		Rs.
Revenue from contracts with customers	297,204,759	231,516,542	28	730,565,967	527,614,710	38
Direct costs	(40,775,375)		(34,107,447)	(20)	(112,737,132)		(95,160,148)	(18)
Gross profit	256,429,384	197,409,095	30	617,828,835	432,454,562	43
Other operating income	-	(66,114)	100	339	(66,114)	101
Administrative expenses	(20,740,957)		(19,102,559)	(9)	(56,337,625)		(52,838,455)	(7)
Results from operating activities	235,688,427	178,240,422	32	561,491,549	379,549,993	48
Finance income	91,105	102,857	(11)	179,001	281,872	(36)
Finance cost	(50,546,021)		(38,050,193)	(33)	(137,159,585)		(123,701,422)	(11)
Profit/(loss) before tax	185,233,511	140,293,086	32	424,510,965	256,130,443	66
Tax expense	-		-	-	(6,831,234)		-	(100)
Profit/(loss) for the period	185,233,511	140,293,086	32	417,679,731	256,130,443	63
Attributable to:
Equity holders of the parent	185,233,511	140,293,086	32	417,679,731	256,130,443	63
Non-controlling interest	-		-	-	-		-	-
	185,233,511		140,293,086	32	417,679,731		256,130,443	63
Earnings/(loss) per share - basic/diluted	2.34	1.78		5.29	3.24
Dividend per share	-	2.00		-	2.00
STATEMENT OF COMPREHENSIVE INCOME - GROUP	Three Months Ended 31st December	Nine Months ended 31st December
	2021	2020	Change %	2021	2020	Change %
	Rs.		Rs.		Rs.		Rs.
Profit/(loss) for the period	185,233,511	140,293,086	32	417,679,731	256,130,443	63
Other comprehensive income not to be reclassified
to profit or loss in subsequent periods
Remeasurement gain/(loss) on Defined Benefit Plans	-	-	-	-	-	-
Deferred tax effect on Actuarial gain/loss	-		-	-	-		-	-
Other comprensive income for the period. Net of tax	-		-	-	-		-	-
Total comprehensive income for the period, net of tax	185,233,511	140,293,086	32	417,679,731	256,130,443	63
Attributable to:
Equity holders of the parent	185,233,511	140,293,086	32	417,679,731	256,130,443	63
Non-controlling interest	-		-	-	-		-	-
	185,233,511		140,293,086	32	417,679,731		256,130,443	63

Figures in brackets indicate deductions.

The above figures are provisional and subject to audit.

RESUS ENERGY PLC

Interim Report 03rd Quarter 2021-2022

Provisional Financial Statements

STATEMENT OF PROFIT OR LOSS - COMPANY

	Three Months Ended 31st December	Nine Months ended 31st December
	2021	2020	Change %	2021	2020	Change %
	Rs.		Rs.	Rs.		Rs.
Revenue from contracts with customers	153,397,560	144,042,104	6	407,212,838	325,013,478	25
Direct costs	(23,860,582)		(21,899,607)	(9)	(66,241,312)		(60,527,873)	(9)
Gross profit	129,536,978	122,142,497	6	340,971,526	264,485,605	29
Other operating income	-	(66,114)	100	201	(66,114)	100
Administrative expenses	(16,820,400)		(17,182,696)	2	(46,940,810)		(46,943,350)	0
Results from operating activities	112,716,578	104,893,687	7	294,030,917	217,476,141	35
Finance income	85,037	102,713	(17)	166,634	281,728	(41)
Finance cost	(24,499,820)		(21,355,885)	(15)	(72,608,667)		(60,042,057)	(21)
Profit/(loss) before tax	88,301,795	83,640,515	6	221,588,884	157,715,812	40
Tax expense	-		-	-	(6,831,234)		-	(100)
Profit/(loss) for the period	88,301,795	83,640,515	6	214,757,650	157,715,812	36
Attributable to:
Equity holders of the parent	88,301,795	83,640,515	6	214,757,650	157,715,812	36
Non-controlling interest	-		-	-	-		-	-
	88,301,795		83,640,515	6	214,757,650		157,715,812	36
Earnings/(loss) per share - basic/diluted	1.12	1.06		2.72	2.09
Dividend per share	-	2.00		-	2.00
STATEMENT OF COMPREHENSIVE INCOME - COMPANY	Three Months Ended 31st December	Nine Months ended 31st December
	2021	2020	Change %	2021	2020	Change %
	Rs.		Rs.		Rs.		Rs.
Profit/(loss) for the period	88,301,795	83,640,515	6	214,757,650	157,715,812	36
Other comprehensive income not to be reclassified
to profit or loss in subsequent periods
Remeasurement gain/(loss) on Defined Benefit Plans	-			-	-			-
Deferred tax effect on Actuarial gain/loss	-			-	-			-
Other comprensive income for the period. Net of tax	-		-	-	-		-	-
Total comprehensive income for the period, net of tax	88,301,795	83,640,515	6	214,757,650	157,715,812	36
Attributable to:
Equity holders of the parent	88,301,795	83,640,515	6	214,757,650	157,715,812	36
Non-controlling interest	-		-	-	-		-	-
	88,301,795		83,640,515	6	214,757,650		157,715,812	36

Figures in brackets indicate deductions.

The above figures are provisional and subject to audit.