LB Finance : Interim Financial statements as at 31-12-2021

F O R T H E P E R I O D E N D E D D E C E M B E R 3 1 , 2 0 2 1

LB FINANCE PLC

STATEMENT OF COMPREHENSIVE INCOME

Period ended 31 December 2021			COMPANY
	FOR THE 3 MONTHS ENDED	FOR THE 9 MONTHS ENDED
	31.12.2021	31.12.2020	Change	31.12.2021	31.12.2020	Change
	Rs.('000)	Rs.('000)	%	Rs.('000)	Rs.('000)	%
Income	8,387,950	7,472,565	12	22,022,274	21,695,441	2
Interest Income	7,674,622	6,972,376	10	20,292,523	20,134,619	1
Less : Interest Expenses	2,169,073	2,690,142	(19)	6,445,926	9,166,539	(30)
Net Interest Income	5,505,549	4,282,234	29	13,846,597	10,968,080	26
Fee and Commission Income	673,975	446,631	51	1,617,900	1,450,446	12
Net Trading Income	14,326	1,967	>100	11,743	4,865	>100
Other Operating Income	25,027	51,591	(51)	100,108	105,511	(5)
Total Operating Income	6,218,877	4,782,423	30	15,576,348	12,528,902	24
Less : Impairment Charges and Other Losses	(160,711)	440,094	>(100)	599,739	1,567,804	(62)
Net Operating Income	6,379,588	4,342,329	47	14,976,609	10,961,098	37
Less : Operating Expenses
Personnel Expenses	862,105	767,231	12	2,409,700	2,223,861	8
Depreciation of Property, Plant and Equipment	205,953	187,459	10	586,935	549,779	7
Amortisation of Intangible Assets	2,459	4,025	(39)	8,882	12,639	(30)
Other Operating Expenses	609,231	469,481	30	1,612,048	1,346,348	20
Total Operating Expenses	1,679,748	1,428,196	18	4,617,565	4,132,627	12
Operating Profit before Tax on Financial Services
4,699,840	2,914,133	61	10,359,044	6,828,471	52
Less : Tax on Financial Services	667,228	450,132	48	1,538,864	1,090,338	41
Profit before Taxation	4,032,612	2,464,001	64	8,820,180	5,738,133	54
Less : Income Tax Expense	1,150,470	766,091	50	2,525,249	1,760,106	43
Profit for the Period	2,882,142	1,697,910	70	6,294,931	3,978,027	58
Basic Earnings per Share (Rs.) [Note 04]
5.20	3.06	70	11.36	7.18	58
Other Comprehensive Income
Other Comprehensive Income that will never be Reclassified to Income
Statement
Net Gains/(Losses) on Investment in Equity Instruments - Fair Value Through
Other Comprehensive Income	38,047	12,433	>100	33,824	24,793	36
Net Other Comprehensive Income that will never be Reclassified to Income
Statement	38,047	12,433	>100	33,824	24,793	36
Other Comprehensive Income for the Period, Net of Tax
38,047	12,433	>100	33,824	24,793	36
Total Comprehensive Income for the Period, Net of Tax
2,920,189	1,710,343	71	6,328,755	4,002,820	58

LB FINANCE PLC

STATEMENT OF COMPREHENSIVE INCOME

Period ended 31 December 2021

Income

Interest Income

Less : Interest Expenses

Net Interest Income

Fee and Commission Income

Net Trading Income

Other Operating Income

Total Operating Income

Less : Impairment Charges and Other Losses

Net Operating Income

Less : Operating Expenses

Personnel Expenses

Depreciation of Property, Plant and Equipment

Amortisation of Intangible Assets

Other Operating Expenses

Total Operating Expenses

Operating Profit before Tax on Financial Services

Less : Tax on Financial Services

Profit before Taxation

Less : Income Tax Expense

Profit for the Period

Profit Attributable to:

Equity Holders of the Company

Non-Controlling Interest

Profit for the Period

Basic Earnings per Share (Rs.) [Note 04]

Other Comprehensive Income

Other Comprehensive Income that will be Reclassified to Income Statement

Net Gains/(Losses) from Translating the Financial Statements of the Foreign Operations

Net Other Comprehensive Income that will be Reclassified to Income Statement

Other Comprehensive Income that will never be Reclassified to Income Statement Net Gains/(Losses) on Investment in Equity Instruments - Fair Value Through Other Comprehensive Income

Net Other Comprehensive Income that will never be Reclassified to Income Statement

Other Comprehensive Income for the Period, Net of Tax

Total Comprehensive Income for the Period, Net of Tax

Attributable to:

Equity Holders of the Company

Non-Controlling Interest

Total Comprehensive Income for the Period, Net of Tax

GROUP

	FOR THE 3 MONTHS ENDED	FOR THE 9 MONTHS ENDED
31.12.2021	31.12.2020	Change	31.12.2021	31.12.2020	Change
	Rs.('000)	Rs.('000)	%	Rs.('000)	Rs.('000)	%
	8,384,970	7,522,029	11	22,055,030	21,823,274	1
7,669,319	7,019,465	9	20,327,572	20,252,418	0
	2,172,743	2,700,461	(20)	6,457,885	9,185,790	(30)
	5,496,576	4,319,004	27	13,869,687	11,066,628	25
676,455	448,895	51	1,621,623	1,459,811	11
14,326	1,967	>100	11,743	4,865	>100
	24,870	51,702	(52)	94,092	106,180	(11)
	6,212,227	4,821,568	29	15,597,145	12,637,484	23
	(115,119)	448,193	>(100)	592,995	1,575,974	(62)
	6,327,346	4,373,375	45	15,004,150	11,061,510	36
872,176	780,962	12	2,441,868	2,260,727	8
206,464	188,031	10	588,557	551,296	7
3,178	4,940	(36)	11,194	15,307	(27)
	616,059	470,552	31	1,631,937	1,364,990	20
	1,697,877	1,444,485	18	4,673,556	4,192,320	11
	4,629,469	2,928,890	58	10,330,594	6,869,190	50
	667,228	450,132	48	1,538,864	1,090,338	41
	3,962,241	2,478,758	60	8,791,730	5,778,852	52
1,147,727	769,408	49	2,521,039	1,772,887	42
	2,814,514	1,709,350	65	6,270,691	4,005,965	57
2,814,514	1,709,350	65	6,270,691	4,005,965	57
-	-		-	-
	2,814,514	1,709,350	65	6,270,691	4,005,965	57
	5.08	3.09	65	11.32	7.23	57

35,726	(9,720)	>100	(148,634)	21,208	>(100)
35,726	(9,720)	>100	(148,634)	21,208	>(100)
38,047	12,433	>100	33,824	24,793	36
38,047	12,433	>100	33,824	24,793	36
73,773	2,713	>(100)	(114,810)	46,001	>(100)
2,888,287	1,712,063	69	6,155,881	4,051,966	52
2,888,287	1,712,063	69	6,155,881	4,051,966	52
-	-		-	-
2,888,287	1,712,063	69	6,155,881	4,051,966	52

LB FINANCE PLC

STATEMENT OF FINANCIAL POSITION

As at 31 December 2021	Company	Group
		Audited			Audited
	31.12.2021	31.03.2021	31.12.2021		31.03.2021
	Rs.('000)	Rs.('000)	Rs.('000)		Rs.('000)
Assets
Cash and Cash Equivalents	13,910,952	6,187,300	14,052,087		6,380,786
Financial Assets Recognised Through Profit or Loss - Measured at Fair
Value	22,606	10,862	22,606		10,862
Financial Assets at Amortised Cost - Loans and Receivables	81,983,566	66,778,188	82,497,548		67,466,581
Financial Assets at Amortised Cost - Lease Rentals Receivable and Stock
out on Hire	42,285,442	47,359,635	42,285,442		47,359,635
Financial Assets Measured at Fair Value Through Other Comprehensive
Income	111,614	77,789	111,614		77,789
Other Financial Assets	6,780,511	10,453,903	6,780,511		10,433,149
Other Non Financial Assets	503,859	920,406	508,620		927,830
Investment in Subsidiary	521,162	521,162	-		-
Property, Plant and Equipment and Right-of-Use Assets	8,484,920	8,241,259	8,491,350		8,250,546
Intangible Assets	17,139	26,021	23,069		36,271
Total Assets	154,621,771	140,576,525	154,772,847		140,943,449
Liabilities
Due to Banks	20,693,815	16,467,179	20,739,930		16,526,657
Financial Liabilities at Amortised Cost - Due to Depositors	87,607,227	85,860,070	87,672,862		85,940,213
Debt Instruments Issued and Other Borrowed Funds	7,605,051	3,113,916	7,605,051		3,113,916
Other Financial Liabilities	3,126,155	3,043,526	3,126,155		3,044,340
Other Non Financial Liabilities	1,206,463	1,028,055	1,226,043		1,051,186
Current Tax Liabilities	1,056,397	1,872,154	1,051,063		1,877,558
Deferred Tax Liabilities	637,072	637,072	637,072		637,072
Post Employment Benefit Liability	387,777	365,265	387,777		365,265
Total Liabilities	122,319,957	112,387,237	122,445,953		112,556,207
Equity
Stated Capital	838,282	838,282	838,282		838,282
Reserves	8,888,916	7,596,106	8,891,183		7,747,007
Retained Earnings	22,574,616	19,754,900	22,597,429		19,801,953
Total Equity Attributable to Equity Holders of the Company	32,301,814	28,189,288	32,326,894		28,387,242
Non Controlling Interest	-	-	-		-
Total Equity	32,301,814	28,189,288	32,326,894		28,387,242
Total Liabilities and Equity	154,621,771	140,576,525	154,772,847		140,943,449
Net Asset Value per Share (Rs.)	58.30	50.88	58.35		51.24
Commitments and Contingencies	1,304,811	903,553	1,258,697		844,075

The information contained in these statements have been extracted from the unaudited Financial Statements unless indicated as "Audited".

CERTIFICATION:

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

(Sgd.)

Malith Hewage

Chief Financial Officer

The Board of Directors is responsible for the preparation and presentation of these Financial Statements.

Signed for and on behalf of the Board of Directors by,

(Sgd.)	(Sgd.)
J A S Sumith Adhihetty	Mrs. Yogadinusha Bhaskaran
Managing Director	Director
26 January 2022
Colombo

LB FINANCE PLC

STATEMENT OF CHANGES IN EQUITY - COMPANY

	Retained	Statutory	Fair Value
Stated Capital	Earnings	Reserve	Reserve	Total Equity
Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)

Balance as at 01 April 2020 (Audited)				838,282	15,944,328	6,323,170	(106,231)	22,999,549
Net Profit for the Period				-	3,978,027	-	-	3,978,027
Other Comprehensive Income, Net of Tax				-	-	-	24,793	24,793
Transfers During the Period				-	(795,605)	795,605	-	-
Balance as at 31 December 2020				838,282	19,126,750	7,118,775	(81,438)	27,002,369
Balance as at 01 April 2021 (Audited)				838,282	19,754,900	7,683,689	(87,583)	28,189,288
Net Profit for the Period				-	6,294,931	-	-	6,294,931
Other Comprehensive Income, Net of Tax				-	-	-	33,824	33,824
Transfers During the Period				-	(1,258,986)	1,258,986	-	-
Final Dividend for 2020/21				-	(2,216,229)	-	-	(2,216,229)
Balance as at 31 December 2021				838,282	22,574,616	8,942,675	(53,759)	32,301,814
STATEMENT OF CHANGES IN EQUITY - GROUP
				Foreign		Total Equity
				Currency		Attributable to
		Retained	Statutory	Translation	Fair Value	Equity Holders	Non-Controlling
	Stated Capital	Earnings	Reserve	Reserve	Reserve	of the Company	Interest	Total Equity
	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)	Rs.('000)
Balance as at 01 April 2020 (Audited)	838,282	15,987,173	6,323,170	117,387	(106,231)	23,159,781	-	23,159,781
Net Profit for the Period	-	4,005,965	-	-	-	4,005,965	-	4,005,965
Other Comprehensive Income, Net of Tax	-	-	-	21,208	24,793	46,001	-	46,001
Transfers During the Period	-	(795,605)	795,605	-	-	-	-	-
Balance as at 31 December 2020	838,282	19,197,533	7,118,775	138,595	(81,438)	27,211,747	-	27,211,747
Balance as at 01 April 2021 (Audited)	838,282	19,801,953	7,683,689	150,901	(87,583)	28,387,242	-	28,387,242	0
Net Profit for the Period	-	6,270,691	-	-	-	6,270,691	-	6,270,691
Other Comprehensive Income, Net of Tax	-	-	-	(148,634)	33,824	(114,810)	-	(114,810)
Transfers During the Period	-	(1,258,986)	1,258,986	-	-	-	-	-
Final Dividend for 2020/21	-	(2,216,229)	-	-	-	(2,216,229)	-	(2,216,229)
Balance as at 31 December 2021	838,282	22,597,429	8,942,675	2,267	(53,759)	32,326,894	-	32,326,894	#