Senkadagala Finance : Interim Financials 31st December 2022

Senkadagala Finance PLC

Interim Financial Statements for the period ended 31 December 2022

Fitch Ratings Lanka Limited:

BBB+ (lka)

Senkadagala Finance PLC

Statement of profit or loss

			Company						Group
For the three month period ended 31 December	2022	2021		Change	2022	2021		Change
	Rs.		Rs.	%		Rs.		Rs.	%
Gross income	1,707,299,148	1,673,900,845	2	1,731,079,689	1,722,409,626	1
Interest income	1,707,704,329	1,571,871,682	9	1,710,553,096	1,572,167,649	9
Interest expense	(1,055,719,536)		(583,419,166)		81		(1,054,273,192)		(583,512,628)		81
Net interest income	651,984,793	988,452,516	(34)	656,279,904	988,655,021	(34)
Fee and commission income	4,705,742	18,008,131	(74)	51,049,144	64,382,422	(21)
Fee and commission expense	(5,804,627)		(3,721,789)		56		(5,804,627)		(3,721,789)		56
Net fee and commission income	(1,098,885)	14,286,342	(108)	45,244,517	60,660,633	(25)
Net gain from trading	4,049,758	7,190,437	(44)	4,049,758	7,820,465	(48)
Net (loss)/gain from financial instruments designated at fair	(46,461,499)	54,100,647	(186)	(46,798,127)	55,384,089	(184)
value through profit or loss
Other operating income	37,300,818		22,729,948		64		12,225,818		22,655,001		(46)
Net other operating income	(5,110,923)	84,021,032	(106)	(30,522,551)	85,859,555	(136)
Total operating income	645,774,985	1,086,759,890	(41)	671,001,870	1,135,175,209	(41)
Impairment charges and other credit losses	301,816,673		(103,764,954)		(391)		301,816,673		(103,764,954)		(391)
Net operating income	947,591,658	982,994,936	(4)	972,818,543	1,031,410,255	(6)
Personnel expenses	(208,898,679)	(182,458,583)	14	(217,420,277)	(189,906,141)	14
Depreciation expenses	(90,193,122)	(98,017,635)	(8)	(92,191,957)	(100,274,163)	(8)
Amortisation expenses	(3,985,942)	(3,623,053)	10	(4,005,265)	(3,642,375)	10
Other operating expenses	(201,544,827)		(169,642,626)		19		(204,600,559)		(172,745,135)		18
Operating profit before taxation on financial services	442,969,088	529,253,039	(16)	454,600,485	564,842,441	(20)
Taxes on financial services	(90,579,399)		(73,427,139)		23		(90,579,399)		(73,427,139)		23
Profit before income tax	352,389,689	455,825,900	(23)	364,021,086	491,415,302	(26)
Income tax expense	(38,721,971)		(110,510,358)		(65)		(46,037,763)		(117,535,387)		(61)
Profit for the period	313,667,718		345,315,542		(9)		317,983,323		373,879,915		(15)
Basic/Diluted earnings per share	3.64	4.31	(16)	3.69	4.67	(21)

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 31 December	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

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

Total other comprehensive income

Total comprehensive income for the period net of tax

313,667,718

345,315,542

(9)

317,983,323

373,879,915

(15)

-	-		-		-	-		-
-		-		-			-		-		-
313,667,718	345,315,542			(9)	317,983,323	373,879,915	(15)

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 31 December	2022	2021	Change	2022	2021	Change
	Rs.	Rs.	%		Rs.	Rs.	%
Gross income	5,043,578,722	4,628,923,980	9	5,147,531,626	4,731,258,387	9
Interest income	4,798,835,501	4,397,724,949	9	4,806,377,732	4,398,383,925	9
Interest expense	(2,741,966,404)	(1,839,599,927)	49		(2,739,382,833)	(1,839,926,114)	49
Net interest income	2,056,869,097	2,558,125,022	(20)	2,066,994,899	2,558,457,811	(19)
Fee and commission income	16,756,557	44,149,448	(62)	151,365,554	180,925,204	(16)
Fee and commission expense	(14,128,822)	(7,781,648)	82		(14,128,822)	(7,781,648)	82
Net fee and commission income	2,627,735	36,367,800	(93)	137,236,732	173,143,556	(21)
Net gain from trading	16,130,012	24,293,594	(34)	21,415,894	25,451,645	(16)
Net gain from financial instruments designated at fair value	51,548,176	64,049,856	(20)	51,067,186	67,016,427	(24)
through profit or loss
Other operating income	160,308,476	98,706,133	62		117,305,260	59,481,186	97
Net other operating income	227,986,664	187,049,583	22	189,788,340	151,949,258	25
Total operating income	2,287,483,496	2,781,542,405	(18)	2,394,019,971	2,883,550,625	(17)
Impairment charges and other credit losses	(69,491,907)	(770,045,925)	(91)	(69,491,907)	(770,045,925)	(91)
Net operating income	2,217,991,589	2,011,496,480	10	2,324,528,064	2,113,504,700	10
Personnel expenses	(624,541,644)	(515,726,539)	21	(651,786,837)	(537,297,550)	21
Depreciation expenses	(278,505,687)	(300,170,827)	(7)	(284,677,328)	(306,881,222)	(7)
Amortisation expenses	(11,496,533)	(9,992,659)	15	(11,554,502)	(10,045,540)	15
Other operating expenses	(550,684,289)	(421,689,830)	31		(560,522,966)	(429,950,384)	30
Operating profit before taxation on financial services	752,763,436	763,916,625	(1)	815,986,431	829,330,004	(2)
Taxes on financial services	(214,487,585)	(176,361,129)	22		(214,487,585)	(176,361,129)	22
Profit before income tax	538,275,851	587,555,496	(8)	601,498,846	652,968,875	(8)
Income tax expense	(99,080,668)	(138,572,388)	(28)		(119,418,290)	(158,343,646)	(25)
Profit for the period	439,195,183	448,983,108	(2)		482,080,556	494,625,229	(3)
Basic/Diluted earnings per share	5.09	5.60	(9)	5.59	6.17	(9)

Figures in brackets in 2022 and 2021 columns indicate deductions.

The above figures are provisional and subject to audit.

Senkadagala Finance PLC