Sierra Cables : Quarterly Financial Report as at 31st December 2021

SIERRA CABLES PLC

PQ 166

INTERIM FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED

31ST DECEMBER 2021

(UNAUDITED)

SIERRA CABLES PLC

INCOME STATEMENT

	Group			Company
FOR THE PERIOD ENDED 31ST DECEMBER,	2021			2020	2021	2020
	Rs.	Rs.		Rs.		Rs.
	(Un-Audited)	(Un-Audited)		(Un-Audited)		(Un-Audited)
Revenue	6,306,088,168			3,771,846,954	6,034,334,427	3,614,530,364
Cost of Sales	(5,237,123,479)			(3,206,630,740)		(5,001,869,032)	(3,045,223,261)
Gross Profit	1,068,964,689			565,216,214	1,032,465,395	569,307,103
Other Income	25,248,807			37,651,673	25,041,890	37,177,215
Selling and Distribution Expenses	(191,565,631)			(182,141,974)	(183,159,125)	(173,904,561)
Administrative Expenses	(141,290,542)			(109,358,181)	(91,775,882)	(81,306,304)
Other Operating Expenses	(2,500,000)			-		(38,779,708)		(16,392,386)
Profit from Operations	758,857,323			311,367,732	743,792,570	334,881,066
Net Finance Costs	(253,307,781)			(101,148,926)	(236,064,684)	(90,688,103)
Share of Profit of Equity-Accounted Investees, (Net of Tax)	26,129,567			18,216,316	-	-
Profit Before Taxation	531,679,109			228,435,123	507,727,886	244,192,963
Income Tax Expense	(92,000,000)			(27,500,000)	(92,000,000)	(27,000,000)
Profit for the Period	439,679,109			200,935,123	415,727,886	217,192,963
Profit/(Loss) Attributable to :
Owners of the Company	441,201,894			204,077,873	415,727,886	217,192,963
Non - Controlling Interests	(1,522,785)			(3,142,750)		-		-
Profit for the Period	439,679,109			200,935,123		415,727,886		217,192,963
Basic Earnings Per Share	0.82			0.38	0.77	0.40

Figures in brackets indicate deductions.

SIERRA CABLES PLC

STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

	Group		Company
FOR THE PERIOD ENDED 31ST DECEMBER,	2021	2020	2021	2020
	Rs.		Rs.		Rs.		Rs.
	(Un-Audited)		(Un-Audited)		(Un-Audited)		(Un-Audited)
Profit for the Period	439,679,109	200,935,123	415,727,886	217,192,963
Other Comprehensive Income/(Expense)
Equity investment at FVOCI - Net Change in Fair Value	5,537,701	6,426,764	5,537,701	6,426,764
Revaluation Surplus of Property	-	548,656,363	-	467,285,963
Net Exchange Difference on Translation of Foreign Operations	-	(16,687)	-	-
Other Comprehensive Income for the Period, Net of Tax
	5,537,701		555,066,440		5,537,701		473,712,727
Total Comprehensive Income for the Period	445,216,810	756,001,563	421,265,587	690,905,690
Total Comprehensive Income/(Expense) Attributable to :
Owners of the Company	446,739,595	751,593,974	421,265,587	690,905,690
Non - Controlling Interests	(1,522,785)		4,407,589		-		-
Total Comprehensive Income for the Period	445,216,810	756,001,563	421,265,587	690,905,690

Figures in brackets indicate deductions.

SIERRA CABLES PLC

INCOME STATEMENT

	GROUP		COMPANY
FOR THE QUARTER ENDED 31ST DECEMBER,	2021	2020	2021	2020
	Rs.	Rs.		Rs.	Rs.
	(Un-Audited)	(Unaudited)		(Un-Audited)	(Unaudited)
Revenue	2,246,728,983	1,593,998,549	2,116,493,560	1,520,747,327
Cost Of Sales	(1,811,857,102)	(1,332,098,826)	(1,697,368,037)	(1,261,313,169)
Gross Profit	434,871,881	261,899,724	419,125,523	259,434,158
Other Income	8,897,859	11,709,997	8,877,644	11,490,039
Selling and Distribution Expenses	(67,643,712)	(70,048,083)	(64,778,048)	(66,581,207)
Administrative Expenses	(50,886,114)	(37,656,219)	(33,432,926)	(28,774,751)
Other Operating Expenses	(2,500,000)	-	(12,500,000)	(10,000,000)
Profit From Operations	322,739,914	165,905,419	317,292,193	165,568,239
Net Finance Costs	(28,476,387)	(24,508,485)	(22,898,801)	(20,458,637)
Profit Before Associate Company's Share of Profit	294,263,527	141,396,934	294,393,392	145,109,602
(Net of Income Tax)
Share of Profit of Associate Company	7,030,263	4,654,412	-	-
Profit Before Taxation	301,293,790	146,051,346	294,393,392	145,109,602
Income Tax Expense	(50,000,000)	(15,500,000)	(50,000,000)	(15,000,000)
Profit/Loss for the Period	251,293,790	130,551,346	244,393,392	130,109,602
Profit/(Loss) Attributable to :
Owners of the Company	251,539,984	131,275,954	244,393,392	130,109,602
Non - Controlling Interests	(246,194)	(724,608)		-	-
	251,293,790	130,551,346	244,393,392	130,109,602
Basic Earnings Per Share	0.47	0.24	0.45	0.24

Figures in brackets indicate deductions

SIERRA CABLES PLC

STATEMENTS OF PROFI T OR LOSS AND OTHER COMPREHENSIVE INCOME

	Group		Company
FOR THE QUARTER ENDED 31ST DECEMBER,	2021	2020	2021	2020
	Rs.		Rs.		Rs.		Rs.
	(Un-Audited)		(Un-Audited)		(Un-Audited)		(Un-Audited)
Profit for the Period	251,293,790	130,551,346	244,393,392	130,109,602
Other Comprehensive Income
Equity investment at FVOCI - Net Change in Fair Value	3,670,144	4,898,351	3,670,144	4,898,352
Revaluation Surplus on Property	-	548,656,363	-	467,285,963
Net Exchange Difference on Translation of Foreign Operations	-	(446,350)	-	-
Other Comprehensive Income for the Period, Net of Tax
3,670,144		553,108,364		3,670,144		472,184,315
Total Comprehensive Income for the Period	254,963,934	683,659,710	248,063,536	602,293,918
Total Comprehensive Income/(Expense) Attributable to :
Owners of the Company	255,210,128	676,855,462	248,063,536	602,293,918
Non - Controlling Interests	(246,194)		6,804,248		-		-
Total Comprehensive Income for the Period	254,963,934	683,659,710	248,063,536	602,293,918

Figures in brackets indicate deductions.