TAL LANKA HOTELS PLC
Statement of Profit or Loss and Other Comprehensive Income
(All amounts in Sri Lanka Rupees Thousands unless otherwise stated)
For the 09 Months Ended 31st December | 3rd Quarter Ended 31st December | |||||
Particulars | ||||||
2021 | 2020 | % Change | 2021 | 2020 | % Change | |
Revenue | 611,555 | 329,481 | 86 | 373,748 | 121,930 | 207 |
Direct Cost | (929,600) | (803,030) | 16 | (377,092) | (262,577) | 44 |
Gross profit / (loss) | (318,045) | (473,549) | (33) | (3,344) | (140,646) | (98) |
Other Income | 215 | (1,612) | (113) | 167 | (3,142) | (105) |
Marketing Expenses | (33,275) | (30,184) | 10 | (11,837) | (8,224) | 44 |
Administrative Expenses | (183,655) | (175,171) | 5 | (64,655) | (75,025) | (14) |
Profit/(Loss) from operations | (534,761) | (680,516) | (21) | (79,669) | (227,036) | (65) |
Finance Income | 14,076 | 5,353 | 163 | 6,498 | 199 | 3,170 |
Finance expenses | (98,854) | (26,989) | 266 | (37,270) | (36,521) | 2 |
Net Finance Expense | (84,778) | (21,636) | 292 | (30,772) | (36,322) | (15) |
Loss Before Tax | (619,539) | (702,152) | (12) | (110,442) | (263,358) | (58) |
Income Tax Expense | Nil | Nil | - | Nil | Nil | - |
Loss for the Period | (619,539) | (702,152) | (12) | (110,442) | (263,358) | (58) |
Other Comprehensive income/(expense),net of income tax | ||||||
Items that will not be reclassified subsequently to profit or loss: | ||||||
Other comprehensive income for the Period, net of tax | Nil | Nil | Nil | Nil | ||
Total comprehensive expense for the Period | (619,539) | (702,152) | (12) | (110,442) | (263,358) | (58) |
Loss per share- basic (Rs.) | (4.44) | (5.03) | (0.79) | (1.89) |
TAL LANKA HOTELS PLC
Statement of Financial Position
(All amounts in Sri Lanka Rupees Thousands unless otherwise stated)
Particulars | As at 31st | As at 31st | As at 31st |
December 2021 | December 2020 | March 2021 | |
ASSETS | |||
Non-current assets | |||
Property, plant and equipment | 3,468,411 | 3,241,579 | 3,720,218 |
Intangible assets | 1,287 | 4,474 | 3,627 |
Leasehold property-right to use of land | 768,373 | 781,564 | 778,267 |
Investments classified as FVOCI | 15,821 | 21,388 | 15,821 |
Investments in Fixed Deposits | 541,099 | - | 140,297 |
4,794,991 | 4,049,005 | 4,658,229 | |
Current assets | |||
Inventories | 70,499 | 65,010 | 55,209 |
Trade and other receivables | 109,334 | 41,047 | 35,169 |
Amounts receivable from related parties | 1,125 | 442 | 1,084 |
Deposits, prepayments and advances | 89,704 | 94,826 | 85,522 |
Current tax asset | 10,263 | 26,031 | 15,910 |
Cash and cash equivalents | 65,499 | 29,642 | 23,307 |
346,425 | 256,997 | 216,201 | |
Total assets | 5,141,416 | 4,306,002 | 4,874,431 |
EQUITY AND LIABILITIES | |||
Capital and reserves | |||
Stated capital (139,637,494 Shares) | 1,396,375 | 1,396,375 | 1,396,375 |
Revaluation reserve | 1,372,030 | 1,005,867 | 1,472,378 |
Fair value reserve | 1,560 | 6,570 | 1,560 |
Accumulated losses | (2,112,829) | (1,211,046) | (1,593,638) |
Total Equity | 657,136 | 1,197,767 | 1,276,675 |
Non-current liabilities | |||
Loans and borrowings | 2,836,404 | 1,883,133 | 2,044,032 |
Retirement benefit obligation | 59,504 | 90,385 | 81,669 |
Deferred tax liability | 420,459 | 311,205 | 420,459 |
3,316,367 | 2,284,723 | 2,546,161 | |
Current liabilities | |||
Trade and other payables | 489,460 | 409,019 | 398,530 |
Amounts payable to related parties | 132,936 | 114,309 | 119,387 |
Bank Overdraft | 74,576 | 1,969 | 109,175 |
Loans and borrowings | 470,941 | 298,214 | 424,503 |
1,167,913 | 823,512 | 1,051,595 | |
Total liabilities | 4,484,280 | 3,108,235 | 3,597,756 |
Total Equity and Liabilities | 5,141,416 | 4,306,002 | 4,874,431 |
Net asset value per share Rs. | 4.71 | 8.58 | 9.14 |
I certify that these financial statements have been prepared in compliance with the requirements of the Companies Act No. 7 of 2007.
Paras Puri
Area Financial Controller- Sri Lanka , Maldives , Malaysia &
Director of Finance - Taj Samudra , Colombo
The Board of Directors is responsible for the preparation and presentation of these financial statements. Approved and signed for and on behalf of the Board of Directors of TAL Lanka Hotels PLC.
V.Govindasamy - Director | T.De Zoysa - Director |
Date :- 20th January 2022
TAL LANKA HOTELS PLC
Statement of Changes in Equity
(All amounts in Sri Lanka Rupees thousands)
Particulars | Stated | Revaluation | Accumulated | Total | |
Capital | reserve | Fair value reserve | losses | ||
Balance as at 01st April 2020 | 1,396,375 | 1,077,607 | 6,570 | (580,633) | 1,899,919 |
Total comprehensive income/(expense) for the period | |||||
Loss for the period | Nil | Nil | Nil | (702,152) | (702,152) |
Other comprehensive income/(expense) | Nil | Nil | Nil | Nil | Nil |
Transfer of depreciation, net of deferred tax | Nil | (71,740) | Nil | 71,740 | Nil |
Balance as at 31st December 2020 | 1,396,375 | 1,005,867 | 6,570 | (1,211,045) | 1,197,767 |
Balance as at 01st April 2021 | 1,396,375 | 1,472,378 | 1,560 | (1,593,638) | 1,276,675 |
Total comprehensive income/(expense) for the period | |||||
Loss for the period | Nil | Nil | Nil | (619,539) | (619,539) |
Other comprehensive income/(expense) | Nil | Nil | Nil | Nil | Nil |
Transfer of depreciation,net of deferred tax | Nil | (100,348) | Nil | 100,348 | Nil |
Balance as at 31st December 2021 | 1,396,375 | 1,372,030 | 1,560 | (2,112,829) | 657,136 |
TAL LANKA HOTELS PLC
Statement of Cash Flows
(All amounts in Sri Lanka Rupees thousands)
For the 09 Months ended | ||
Particulars | 31st December | |
2021 | 2020 | |
Cash flows from Operating activities | ||
Loss before tax | (619,539) | (702,152) |
Adjustments for: | ||
Gain on disposals of property plant and equipment | Nil | Nil |
Depreciation on property, plant and equipment | 264,116 | 276,128 |
Amortisation of intangible asset | 2,340 | 2,667 |
Amortisation of leasehold property | 9,893 | 9,893 |
Interest income | (14,076) | (5,353) |
Interest expense | 94,303 | 63,528 |
Provision for defined benefit plans | 13,428 | 9,561 |
Impairment of Inventories | (1,503) | Nil |
Economic service charge (written back)/write off | 5,535 | 3,404 |
Unrealized exchange (gain) / loss on loans | 2,458 | (38,890) |
Operating profit/(loss)before working capital changes | (243,045) | (381,214) |
(Increase )/Decrease in inventories | (13,787) | 6,490 |
(Increase )/Decrease in trade and other receivables | (74,053) | 105,943 |
(Increase )/Decrease in amounts receivable from related companies | (41) | 772 |
(Increase )/Decrease in deposits ,prepayments and advances | (4,182) | 8,909 |
Increase /(Decrease) in trade and other payables | 75,370 | (10,774) |
Increase /(Decrease) in amounts payable to related companies | 15,274 | 8,141 |
Cash generated from /(Used in) operations | (244,464) | (261,733) |
Taxes Paid | Nil | 159 |
Retirement benefits paid | (592) | Nil |
(Investments )/Withdrawal in plan asset | (35,000) | Nil |
Interest paid | (8,014) | (6,962) |
Net cash (Used in) /generated from operating activities | (288,070) | (268,536) |
Cash flows from investing activities | ||
Net proceeds from disposal of property, plant and equipment | Nil | Nil |
Purchase of property, plant and equipment | (12,309) | (21,586) |
Acquisition of intangible assets | Nil | Nil |
(Investment) / Withdrawal in fixed deposits | (387,640) | 50,000 |
Interest received | 170 | 5,845 |
Net cash Used in investing activities | (399,779) | 34,259 |
Cash flows from Financing activities | ||
Borrowings obtained | 387,640 | 50,000 |
Cashback Facility obtained on FD | 379,000 | Nil |
Repayments of borrowings | Nil | Nil |
Payments on lease liability | (2,000) | Nil |
Net cash generated from /(used in) financing activities | 764,640 | 50,000 |
Net increase /(decrease) in cash and cash equivalents | 76,791 | (184,277) |
Cash & cash equivalents at the beginning of the year | (85,868) | 211,950 |
Cash & cash equivalents at the end of the period | (9,077) | 27,673 |
Cash and cash equivalents at the end of the period | ||
Cash and cash equivalents | (9,077) | 27,673 |
(9,077) | 27,673 |
This is an excerpt of the original content. To continue reading it, access the original document here.
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Tal Lanka Hotels plc published this content on 02 February 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 02 February 2022 11:08:15 UTC.