Sri Lanka Telecom PLC
Interim Condensed Consolidated Financial Statements
For the Quarter ended
31 March 2023
Sri Lanka Telecom PLC
Company Registration No. PQ 7
Interim Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income
(All amounts in LKR Millions ) | ||
Group | ||
Jan - Mar | ||
2023 | 2022 | |
(Reviewed) | (Reviewed) | |
Revenue | ||
26,554 | 26,001 | |
Direct costs | (15,885) | (14,762) |
Gross Profit | 10,669 | 11,239 |
Sales and marketing costs | (2,799) | (2,694) |
Administrative costs | (5,772) | (5,310) |
Operating profit | 2,098 | 3,235 |
Other income | 759 | 574 |
Interest expenses and finance cost | (2,223) | (732) |
Foreign exchange gain/ (loss) | 408 | (205) |
Interest income | 553 | 510 |
Share of (loss) / profit from equity | ||
- accounted investee | (5) | 73 |
Profit before tax | 1,590 | 3,455 |
Income tax expenses | (633) | (790) |
Profit for the Period | 957 | 2,665 |
Other comprehensive income | ||
Defined benefit plan actuarial gain/ (loss) | 306 | 98 |
Tax on other comprehensive income | (92) | (25) |
Other comprehensive income for the | ||
period (net of tax) | 214 | 73 |
Total Comprehensive Income for the | ||
Period | 1,171 | 2,738 |
Profit Attributable to : | ||
Owners of the company | 956 | 2,662 |
Non-controlling interest | 1 | 3 |
Total Comprehensive Income attributable | 957 | 2,665 |
to: | ||
Owners of the company | 1,170 | 2,735 |
Non-controlling interest | 1 | 3 |
1,171 | 2,738 | |
Earnings per share | 0.53 | 1.47 |
- Basic (Rs.) |
Company
Jan - Mar
2023 | 2022 |
(Reviewed) | (Reviewed) |
17,560 | 15,866 |
(9,844) | (9,221) |
7,716 | 6,645 |
(1,282) | (1,359) |
(4,461) | (4,155) |
1,973 | 1,131 |
818290
(1,951) | (483) |
- 3,262
- 260
- 73
- 4,533
- (416)
626 4,117
304 | 97 |
- (24)
21373
839 4,190
626 4,117
- | - |
626 4,117
839 4,190
- | - |
839 4,190
0.352.28
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Sri Lanka Telecom PLC
Company Registration No. PQ 7
Interim Condensed Consolidated Statement of Financial Position
(All amounts in LKR Millions ) | ||||||
Group | Company | |||||
31 Mar 2023 | 31 Dec 2022 | 31 Mar 2023 | 31 Dec 2022 | |||
(Reviewed) | (Audited) | (Reviewed) | (Audited) | |||
Assets | ||||||
Non-Current Assets | ||||||
Property,plant and equipment | 171,349 | 164,916 | 133,472 | 127,061 | ||
Right-of-use assets | 6,790 | 6,899 | 803 | 613 | ||
Intangible assets and goodwill | 8,632 | 7,876 | 3,398 | 3,643 | ||
Investments in subsidiaries | - | - | 14,431 | 14,431 | ||
Investments in associates | 433 | 439 | 433 | 439 | ||
Deferred tax assets | 199 | 177 | - | - | ||
Investments In equity Shares | 2 | 2 | - | - | ||
Contract assets | 1,414 | 1,504 | 319 | 313 | ||
Other receivables | 3,400 | 3,320 | 3,375 | 3,295 | ||
Total Non-current Assets | 192,219 | 185,133 | 156,231 | 149,795 | ||
Current Assets | ||||||
Inventories | 3,648 | 3,283 | 2,546 | 2,405 | ||
Trade and other receivables | 33,120 | 32,533 | 23,658 | 23,677 | ||
Current tax receivables | 64 | 20 | - | - | ||
Contract assets | 1,504 | 1,470 | 127 | 122 | ||
Other investments | 692 | 3,995 | 672 | 3,976 | ||
Cash and cash equivalents | 13,418 | 14,150 | 5,550 | 6,051 | ||
Total Current Assets | 52,446 | 55,451 | 32,553 | 36,231 | ||
Total Assets | 244,665 | 240,584 | 188,784 | 186,026 | ||
Equity and Liabilities | ||||||
Equity | ||||||
Stated capital | 18,049 | 18,049 | 18,049 | 18,049 | ||
Insurance reserve | 300 | 300 | 300 | 300 | ||
Retained earnings | 75,195 | 74,024 | 52,036 | 51,197 | ||
Equity attributable to equity share - holders | ||||||
of the company | 93,544 | 92,373 | 70,385 | 69,546 | ||
Non controlling Interest | 116 | 115 | - | - | ||
Total Equity | 93,660 | 92,488 | 70,385 | 69,546 | ||
Non Current Liabilities | ||||||
Borrowings | 35,396 | 30,332 | 35,396 | 30,332 | ||
Vendor financing | 14,855 | 13,057 | 14,855 | 13,057 | ||
Lease liability | 4,381 | 4,835 | 403 | 428 | ||
Contract liabilities | 1,655 | 1,483 | 1,655 | 1,483 | ||
Deferred income | 1,410 | 1,469 | 1,410 | 1,469 | ||
Deferred tax liabilities | 9,286 | 9,066 | 8,093 | 8,002 | ||
Employee benefits | 5,610 | 5,733 | 4,706 | 4,846 | ||
Trade and other payables | 8,873 | 8,696 | 7,973 | 7,804 | ||
Total Non Current Liabilities | 81,466 | 74,671 | 74,491 | 67,421 | ||
Current Liabilities | ||||||
Borrowings | 15,506 | 16,963 | 12,540 | 13,310 | ||
Vendor financing | 2,422 | 4,269 | 1,761 | 1,745 | ||
Lease liability | 2,736 | 2,661 | 443 | 227 | ||
Contract liabilities | 1,000 | 972 | 743 | 716 | ||
Deferred income | 3,799 | 3,852 | 412 | 221 | ||
Current tax liabilities | 1,113 | 1,124 | 519 | 441 | ||
Deferred tax liabilities | 12 | 12 | - | - | ||
Trade and other payables | 42,951 | 43,572 | 27,490 | 32,399 | ||
Total Current Liabilities | 69,539 | 73,425 | 43,908 | 49,059 | ||
Total Liabilities | 151,005 | 148,096 | 118,399 | 116,480 | ||
Total Equity and Liabilities | 244,665 | 240,584 | 188,784 | 186,026 |
I certify that these financial statements have been prepared in compliance with the requirements of the Companies Act No.07 of 2007.
Signed
Sanjeewa Samaranayake
Group Chief Financial Officer
The Board of Directors is responsible for these financial statements.These financial statements were approved by the Board of Directors on 12 May 2023.
Signed for and behalf of the Board.
Signed | Signed |
Rohan Fernando | Mohan Weerakoon |
Chairman | Director |
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Sri Lanka Telecom PLC
Company Registration No. PQ 7
Interim Condensed Consolidated Statement of Changes In Equity
For the three months ended 31 March 2023
(All amounts in LKR Millions ) | ||||||
Group | Attributable to owners of the Company | |||||
Non | ||||||
Stated | Insurance | Retained | Total | controlling | Total | |
capital | reserve | earnings | interest | equity | ||
Balance as at 1 January 2022 | 18,049 | 1,105 | 74,714 | 93,868 | 108 | 93,976 |
Adjustment for Surcharge Tax levied under the | ||||||
Surcharge Tax Act No.14 of 2022 | (2,289) | (2,289) | - | (2,289) | ||
Adjusted balances as at 01 January 2022 | 18,049 | 1,105 | 72,425 | 91,579 | 108 | 91,687 |
Non Controlling interest | - | - | - | - | 7 | 7 |
Total comprehensive income for the year | ||||||
Net profit for the year | - | - | 4,765 | 4,765 | - | 4,765 |
Other comprehensive income / (expense) | ||||||
Defined benefit plan actuarial loss,net of tax | - | - | (325) | (325) | - | (325) |
Total other comprehensive income for the year | - | - | (325) | (325) | - | (325) |
Total comprehensive income for the year | - | - | 4,440 | 4,440 | - | 4,440 |
Transactions with owners, recorded directly in equity | ||||||
Contribution by and distribution to owners | ||||||
Dividends to equity share holders | - | - | (3,646) | (3,646) | - | (3,646) |
Insurance reserve | ||||||
Transferred from insurance reserve | - | (805) | 805 | - | - | - |
Balance as at 31 December 2022 | 18,049 | 300 | 74,024 | 92,373 | 115 | 92,488 |
Balance as at 1 January 2023 | 18,049 | 300 | 74,024 | 92,373 | 115 | 92,488 |
Non controlling interest | - | - | - | - | 1 | 1 |
Total comprehensive income for period | ||||||
Net profit for the period | - | - | 957 | 957 | - | 957 |
Other comprehensive income | ||||||
Defined benefit plan actuarial gain,net of tax | - | - | 214 | 214 | - | 214 |
Total other comprehensive income for period | - | - | 214 | 214 | - | 214 |
Total comprehensive income for the period | - | - | 1,171 | 1,171 | - | 1,171 |
Balance as at 31 March 2023 | 18,049 | 300 | 75,195 | 93,544 | 116 | 93,660 |
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Sri Lanka Telecom PLC
Company Registration No. PQ 7
Interim Condensed Consolidated Statement of Changes In Equity
For the three months ended 31 March 2023
(All amounts in LKR Millions ) | ||||
Company | Attributable to owners of the Company | |||
Stated | Insurance | Retained | Total | |
capital | reserve | earnings | ||
Balance as at 1 January 2022 | 18,049 | 1,105 | 46,518 | 65,672 |
Adjustment for Surcharge Tax levied under the Surcharge Tax Act | ||||
No.14 of 2022 | - | - | (742) | (742) |
Adjusted balances as at 01 January 2022 | 18,049 | 1,105 | 45,776 | 64,930 |
Total comprehensive income for the year | ||||
Net profit for the year | - | - | 8,463 | 8,463 |
Other comprehensive income / (expense) | ||||
Defined benefit plan actuarial loss,net of tax | - | - | (201) | (201) |
Total other comprehensive income for the year | - | - | (201) | (201) |
Total comprehensive income for the year | - | - | 8,262 | 8,262 |
Transactions with owners,recorded directly in equity | ||||
Contribution by and distribution to owners | ||||
Dividends to equity share holders | - | - | (3,646) | (3,646) |
Insurance reserve | ||||
Transferred from insurance reserve | - | (805) | 805 | - |
Balance as at 31 December 2022 | 18,049 | 300 | 51,197 | 69,546 |
Balance as at 1 January 2023 | 18,049 | 300 | 51,197 | 69,546 |
Total comprehensive income for period | ||||
Net profit for the period | - | - | 626 | 626 |
Other comprehensive income / (expense) | ||||
Defined benefit plan actuarial loss,net of tax | - | - | 213 | 213 |
Total other comprehensive income for period | - | - | 213 | 213 |
Total comprehensive income for the period | - | - | 839 | 839 |
Balance as at 31 March 2023 | 18,049 | 300 | 52,036 | 70,385 |
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Sri Lanka Telecom plc published this content on 12 May 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 May 2023 08:07:08 UTC.