Senkadagala Finance : Interim Financials 30th September 2022

Senkadagala Finance PLC

Interim Financial Statements for the period ended 30 September 2022

Fitch Ratings Lanka Limited:

BBB+ (lka)

Senkadagala Finance PLC

Statement of profit or loss

			Company						Group
For the three month period ended 30 September	2022	2021		Change	2022	2021		Change
	Rs.		Rs.	%		Rs.		Rs.	%
Gross income	1,775,485,709	1,533,441,892	16	1,830,732,127	1,541,443,271	19
Interest income	1,575,044,053	1,438,986,436	9	1,577,833,487	1,439,181,541	10
Interest expense	(977,149,226)		(598,825,243)		63		(976,286,532)		(598,797,956)		63
Net interest income	597,894,827	840,161,193	(29)	601,546,955	840,383,585	(28)
Fee and commission income	6,712,196	16,231,498	(59)	53,671,047	61,955,550	(13)
Fee and commission expense	(4,000,186)		(2,501,263)		60		(4,000,186)		(2,501,263)		60
Net fee and commission income	2,712,010	13,730,235	(80)	49,670,861	59,454,287	(16)
Net gain from trading	12,080,254	9,735,508	24	12,080,254	9,735,508	24
Net gain from financial instruments designated at fair value	120,860,898	7,233,249	1,571	126,434,021	8,390,471	1,407
through profit or loss
Other operating income	60,788,308		61,255,201		(1)		60,713,318		22,180,201		174
Net other operating income	193,729,460	78,223,958	148	199,227,593	40,306,180	394
Total operating income	794,336,297	932,115,386	(15)	850,445,409	940,144,052	(10)
Impairment charges and other credit losses	(121,986,738)		(191,697,161)		(36)		(121,986,738)		(191,697,161)		(36)
Net operating income	672,349,559	740,418,225	(9)	728,458,671	748,446,891	(3)
Personnel expenses	(209,590,855)	(166,945,056)	26	(217,676,919)	(174,243,589)	25
Depreciation expenses	(93,509,989)	(99,932,699)	(6)	(95,511,203)	(102,186,941)	(7)
Amortisation expenses	(3,848,072)	(3,394,056)	13	(3,867,395)	(3,413,379)	13
Other operating expenses	(167,456,762)		(137,295,131)		22		(171,358,322)		(140,039,917)		22
Operating profit before taxation on financial services	197,943,881	332,851,283	(41)	240,044,832	328,563,065	(27)
Taxes on financial services	(51,412,564)		(55,142,015)		(7)		(51,412,564)		(55,142,015)		(7)
Profit before income tax	146,531,317	277,709,268	(47)	188,632,268	273,421,050	(31)
Income tax expense	(65,787,794)		(21,354,764)		208		(72,640,032)		(28,325,078)		156
Profit for the period	80,743,523		256,354,504		(69)		115,992,236		245,095,972		(53)
Basic/Diluted earnings per share	0.95	3.33	(72)	1.36	3.18	(57)

Figures in brackets in 2022 and 2021 columns indicate deductions.

The above figures are provisional and subject to audit.

Senkadagala Finance PLC

Statement of other comprehensive income

		Company				Group
For the three month period ended 30 September	2022	2021	Change	2022	2021	Change
	Rs.	Rs.	%		Rs.	Rs.	%

Profit for the period

Other comprehensive income

Items that will not be reclassified to profit or loss Actuarial loss on defined benefit plans

Deferred tax effect on actuarial loss

Changes in fair value of investments in equity at fair value through other comprehensive income

Total other comprehensive income

80,743,523

256,354,504

(69)

115,992,236

245,095,972

(53)

-	-	-	-	-	-
-	-	-	-	-	-
-	-		-	-	-		-
-		-		-		-		-		-

Total comprehensive income for the period net of tax	80,743,523	256,354,504	(69) 115,992,236	245,095,972	(53)

Figures in brackets in 2022 and 2021 columns indicate deductions.

The above figures are provisional and subject to audit.

Senkadagala Finance PLC

Statement of profit or loss

		Company				Group
For the period ended 30 September	2022	2021	Change	2022	2021	Change
	Rs.	Rs.	%		Rs.	Rs.	%
Gross income	3,336,279,574	2,955,023,135	13	3,416,451,937	3,008,848,761	14
Interest income	3,091,131,172	2,825,853,267	9	3,095,824,636	2,826,216,276	10
Interest expense	(1,686,246,868)	(1,256,180,761)	34		(1,685,109,641)	(1,256,413,486)	34
Net interest income	1,404,884,304	1,569,672,506	(10)	1,410,714,995	1,569,802,790	(10)
Fee and commission income	12,050,815	26,141,317	(54)	100,316,410	116,542,782	(14)
Fee and commission expense	(8,324,195)	(4,059,859)	105		(8,324,195)	(4,059,859)	105
Net fee and commission income	3,726,620	22,081,458	(83)	91,992,215	112,482,923	(18)
Net gain from trading	12,080,254	17,103,157	(29)	17,366,136	17,631,180	(2)
Net gain from financial instruments designated at fair value	98,009,675	9,949,209	885	97,865,313	11,632,338	741
through profit or loss
Other operating income	123,007,658	75,976,185	62		105,079,442	36,826,185	185
Net other operating income	233,097,587	103,028,551	126	220,310,891	66,089,703	233
Total operating income	1,641,708,511	1,694,782,515	(3)	1,723,018,101	1,748,375,416	(1)
Impairment charges and other credit losses	(371,308,580)	(666,280,971)	(44)	(371,308,580)	(666,280,971)	(44)
Net operating income	1,270,399,931	1,028,501,544	24	1,351,709,521	1,082,094,445	25
Personnel expenses	(415,642,965)	(333,267,956)	25	(434,366,560)	(347,391,409)	25
Depreciation expenses	(188,312,565)	(202,153,192)	(7)	(192,485,371)	(206,607,059)	(7)
Amortisation expenses	(7,510,591)	(6,369,606)	18	(7,549,237)	(6,403,165)	18
Other operating expenses	(349,139,462)	(252,047,204)	39		(355,922,407)	(257,205,249)	38
Operating profit before taxation on financial services	309,794,348	234,663,586	32	361,385,946	264,487,563	37
Taxes on financial services	(123,908,186)	(102,933,990)	20		(123,908,186)	(102,933,990)	20
Profit before income tax	185,886,162	131,729,596	41	237,477,760	161,553,573	47
Income tax expense	(60,358,697)	(28,062,030)	115		(73,380,527)	(40,808,259)	80
Profit for the period	125,527,465	103,667,566	21		164,097,233	120,745,314	36
Basic/Diluted earnings per share	1.47	1.35	9	1.92	1.57	23

Figures in brackets in 2022 and 2021 columns indicate deductions.

The above figures are provisional and subject to audit.

Senkadagala Finance PLC