Lanka Hospitals : Quarterly Financial Report as at 31-12-2021

PROVISIONAL CONSOLIDATED FINANCIAL

STATEMENTS

FOR THE QUARTER ENDED

31st DECEMBER 2021

The Lanka Hospitals

C O R P O R A T I O N PLC (PQ 180)

THE LANKA HOSPITALS CORPORATION PLC

Provisional Consolidated Financial Statements

For the Quarter ended

31st December 2021

Board of Directors

Dr.Bandula WIJESIRIWARDENA - Chairman

Mr. Ashish BHATIA

Ms. Richa Singh DEBGUPTA

Ms.Roshini CABRAAL

Dr.Ravindra RUBERU

Ms.Lakshmi SANGAKKARA

Mr. Mayura FERNANDO

Mr. Kushan De ALWIS PC

Mr. Nadun FERNANDO

Dr. Kanishka KARUNARATNE

Mr. Kasun RAJAPAKSA

Mr. Anurag KALRA - ( Alternate Director to Mr. Ashish BHATIA ) Mr. Rajiv PURI (Alternate Director to Ms. Richa Singh DEBGUPTA )

Principal Place of Business & Registered Office

No. 578, Elvitigala Mawatha, Narahenpita, Colombo 05

Tel: [phone] Fax: [phone]

E-mail: [e-mail]

Web: www.lankahospitals.com

THE LANKA HOSPITALS CORPORATION PLC

Provisional Consolidated Financial Statements for the Quarter ended 31st December 2021

Statement of Financial Position	Group
As at,	31st Dec 2021		31st Dec 2020
			Audited
	Rs.		Rs.
ASSETS
Non Current Assets
Property, Plant & Equipment	4,764,691,418		4,757,111,279
Right of Use Assets	533,477,044		551,719,758
Intangible Assets	55,276,003		56,532,676
Investment Property	-		-
Investment in Subsidiary	-		-
Total Non Current Assets	5,353,444,465		5,365,363,714
Current Assets
Inventories	455,449,496		438,907,124
Trade & Other Receivables	1,055,294,200		676,257,705
Amounts due from Related Parties	1,834,188		3,745,338
Other Financial Assets	4,749,971,153		3,106,994,000
Cash and Cash Equivalents	453,897,597		290,657,430
Total Current Assets	6,716,446,635		4,516,561,596
Total Assets	12,069,891,100		9,881,925,310
EQUITY AND LIABILITIES
Equity
Stated Capital	2,671,543,090		2,671,543,090
Revaluation Reserve	1,330,581,534		1,093,047,507
Retained Earnings	5,316,983,069		3,404,721,752
Total Equity	9,319,107,693		7,169,312,349
Non Current Liabilities
Employee Benefit Obligations	277,775,607		294,426,643
Deferred Tax Liabilities	509,514,798		1,052,711,169
Lease Liability	159,299,028		199,744,680
Total Non Current Liabilities	946,589,433		1,546,882,492
Current Liabilities
Amounts due to Related Parties	-		4,769,075
Trade & Other Payables	967,948,768		785,047,519
Lease Liability	88,743,012		72,424,798
Income Tax Payable	265,117,376		47,915,055
Bank Overdraft	482,384,819		255,574,022
Total Current Liabilities	1,804,193,974		1,165,730,469
Total Liabilities	2,750,783,407		2,712,612,961
Total Equity & Liabilities	12,069,891,100		9,881,925,310

Company

31st Dec 2021	31st Dec 2020
	Audited
Rs.	Rs.
4,347,991,830	4,334,095,670
429,779,632	446,981,873
44,027,531	42,399,841
146,700,000	142,000,000
414,000,020	414,000,020
5,382,499,013	5,379,477,404
302,956,360	347,819,214
765,124,452	541,069,932
111,739,308	11,380,516
3,865,026,810	2,756,994,000
344,671,757	231,146,994
5,389,518,687	3,888,410,655
10,772,017,700	9,267,888,059
2,671,543,090	2,671,543,090
1,240,031,685	1,008,006,749
4,063,983,120	2,950,664,127
7,975,557,895	6,630,213,967
242,422,163	259,503,102
467,255,943	996,303,172
72,911,716	112,145,521
782,589,822	1,367,951,795

• 4,769,075
  1,417,703,160 952,719,211
  60,541,838 49,908,439
  174,457,995 47,247,078
  361,166,990 215,078,494
  2,013,869,983 1,269,722,297
  2,796,459,805 2,637,674,092

10,772,017,700 9,267,888,059

The figures as at 31st December 2021 are provisional and subject to audit.

I certify that the consolidated financial statements comply with the requirements of the Companies Act No. 07 of 2007.

Group Chief Financial Officer

The Board of the Directors is responsible for the preparation and presentation of these consolidated financial statements. Approved and signed for and on behalf of the Board.

Chairman

Director

Date 23 February 2022 Colombo

(Amounts in brackets indicate deductions)

THE LANKA HOSPITALS CORPORATION PLC

Provisional Consolidated Financial Statements for the Quarter ended 31st December 2021

Statement of Comprehensive Income

	Group		Company
For the 3 months ended,	31st Dec 2021	31st Dec 2020		31st Dec 2021	31st Dec 2020
	Rs.	Rs.		Rs.	Rs.
Revenue from contract with customers	2,660,633,491	1,864,701,273		1,768,323,544	1,314,457,070
Cost of services	(1,452,044,537)	(1,066,228,058)		(1,028,668,386)	(860,167,098)
Gross profit	1,208,588,954	798,473,215		739,655,158	454,289,972
Other operating income	91,110,788	14,530,759		96,214,751	430,317,427
Administrative expenses	(623,109,696)	(506,752,546)		(449,199,316)	(371,359,461)
Other operating expenses	(207,332,958)	(192,657,881)		(179,624,003)	(171,131,560)
Change in fair value of investment property	-	-		4,700,000	7,000,000
Profit from operations	469,257,089	113,593,547		211,746,590	349,116,378
Finance income	76,167,302	58,558,692		66,541,729	53,505,311
Finance Cost	(7,673,211)	(6,713,523)		(4,292,245)	(3,362,832)
Profit before tax	537,751,180	165,438,716		273,996,073	399,258,857
Income tax expense	38,141,137	26,764,659		72,285,087	23,180,576
Profit for the period	575,892,317	192,203,375		346,281,161	422,439,433
Effect on deferred tax due to income tax rate change	289,330,721	-		280,288,121	-
Actuarial gains / (losses) on defined benefit obligations	47,039,308	(3,568,033)		41,802,407	(1,196,427)
Tax on other comprehensive income	(6,585,503)	999,050		(5,852,337)	335,000
Defferred tax on depreciation of revalued assets	-	(57,683,849)		-	(48,394,467)
Surplus on revaluation of property plant & equipment	-	215,013,745		-	181,837,383
Other comprehensive income net of tax	329,784,526	154,760,913		316,238,191	132,581,489
Total comprehensive income for the period	905,676,843	346,964,288		662,519,352	555,020,922
Basic earnings per share	2.57	0.86	1.55	1.89
Dividend per share	1.75	-	1.75	-
(Amounts in brackets indicate deductions)

THE LANKA HOSPITALS CORPORATION PLC

Provisional Consolidated Financial Statements for the Quarter ended 31st December 2021

Statement of Comprehensive Income

	Group		Company
For the 12 months ended,	31st Dec 2021	31st Dec 2020		31st Dec 2021	31st Dec 2020
		Audited			Audited
	Rs.	Rs.		Rs.	Rs.
Revenue from contract with customers	10,033,566,919	6,803,676,695		6,707,009,994	5,249,334,500
Cost of services	(5,270,002,589)	(3,941,721,091)		(3,831,854,666)	(3,322,972,431)
Gross profit	4,763,564,330	2,861,955,604		2,875,155,329	1,926,362,069
Other operating income	137,071,511	62,460,600		402,902,844	483,637,819
Administrative expenses	(2,290,179,577)	(2,024,058,106)		(1,651,142,363)	(1,511,821,745)
Other operating expenses	(751,460,532)	(704,622,221)		(675,550,401)	(636,813,691)
Change in fair value of investment property	-	-		4,700,000	7,000,000
Profit from operations	1,858,995,732	195,735,877		956,065,409	268,364,452
Finance income	406,270,332	249,542,279		379,256,241	221,796,212
Finance Cost	(32,598,348)	(34,917,703)		(18,417,008)	(23,051,238)
Profit before tax	2,232,667,717	410,360,453		1,316,904,641	467,109,426
Income tax expense	(258,150,467)	(25,367,354)		(105,746,475)	(23,530,524)
Effect on deferred tax due to rate change	237,024,864	-		209,478,866	-
Profit for the period	2,211,542,113	384,993,099		1,420,637,033	443,578,902
Effect on deferred tax due to income tax rate change	289,330,721	-		280,288,121	-
Actuarial gains / (losses) on defined benefit obligations	47,039,308	(3,568,033)		41,802,407	(1,196,427)
Deferred tax on depreciation of revalued assets	-	(57,683,849)		-	(48,394,467)
Tax on other comprehensive income	(6,585,503)	999,050		(5,852,337)	335,000
Surplus on revaluation of property plant & equipment	-	215,013,745		-	181,837,383
Other comprehensive income net of tax	329,784,526	154,760,913		316,238,191	132,581,488
Total comprehensive income for the period	2,541,326,640	539,754,012		1,736,875,224	576,160,390
Basic earnings per share	9.88	1.72	6.35	1.98
Dividend per share	1.75	-	1.75	-
(Amounts in brackets indicate deductions)