Asia Asset Finance : Page 4 - Cash Flow Statement for the Quarter ended 30th September 2022
October 21, 2022 at 01:20 am EDT
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ASIA ASSET FINANCE PLC
Page 4
STATEMENT OF CASH FLOW
FOR THE QUARTER ENDED 30TH SEPTEMBER, 2022
30.09.2022
30.09.2021
Rs.
Rs.
Unaudited*
Unaudited*
Cash Flows From / (Used in) Operating Activities
Profit Before Tax
210,109,879
70,623,759
Adjustments for
Depreciation and amortization
32,737,987
32,088,006
Amortization of - right of use asset
34,964,351
26,696,298
Interest expenses on Lease Liability
14,702,500
12,927,888
Impairment of lease hire purchase, loans and advances
270,402,898
179,904,257
Gain /(Loss )Expiration of operating lease agreement during the year
(2,166,889)
-
Early termination of loans, leases and hire purchase
(4,920,198)
(20,565,904)
Provision for retirement benefit liability
3,600,000
3,600,000
Interest expense on Debenture
146,050,520
60,655,766
Gains from sale of property, plant and equipment, investment property
(3,097,201)
(3,142,130)
Interest expense on other borrowings
490,676,193
251,186,955
Profit from Operation Before Working Capital Changes
1,193,060,038
613,974,895
-
(Increase)/Decrease in Lease Rentals Receivable and Hire Purchase
355,625,813
709,205,244
(Increase)/decrease in loans and advances
(2,671,880,343) #
(1,817,805,860)
(Increase)/Decrease in Deposits and Prepayments
(41,653,819)
67,194,034
(Increase)/Decrease in Deposits from Customers
1,326,298,510
1,438,930,514
Increase/(decrease) Other non-financial liabilities
152,959,728
(9,736,948)
Net Cash From/(Used in) Operating Activities before Income Tax Payments
314,409,927
1,001,761,879
Gratuity paid
(2,135,400)
(1,445,249)
Rent paid
(34,576,030)
(27,958,068)
Net Cash From Operating Activities
277,698,497
972,358,562
Cash Flows from / (Used in) Investing Activities
Acquisition of Property, Plant and Equipment
(25,574,447)
(26,610,593)
Acquisition of intangible assets
(12,443,299)
(9,646,942)
Proceeds from sale of investment property
40,000,000
-
Expenses incurred of investment property
(3,826,500)
-
Acquisition of Investment Property
-
12,210,241
Proceeds from sale of property, plant and equipment
1,733,803
504,228
Net Cash Flows From/(Used in) Investing Activities
(110,443)
(23,543,066)
Cash Flows from / (Used in) Financing Activities
Repayment of Other Borrowed Funds
(1,873,384,021)
(2,274,183,052)
Proceed from debenture issue
-
992,275,770
Repayment of debenture
(107,042,906)
(2,691,326)
Proceeds from preference share issue
-
413,985,110
Divident Payment to preference shareholders
(28,978,447)
-
Proceeds from Other Borrowed Funds
2,632,000,000
1,463,000,000
Net Cash Flows From/(Used in) Financing Activities
622,594,627
592,386,502
Net Increase in Cash and Cash Equivalents
900,182,681
#
1,541,201,998
Cash and Cash Equivalents at the Beginning of the Period
2,348,075,362
#
1,636,647,031
Cash and Cash Equivalents at the End of the Period
3,248,258,044
3,177,849,028
At the End of the Period
Cash and Cash Equivalents
1,309,781,105
1,589,684,144
Investment in Reverse Repurchase Agreements Against Treasury Bills and Bonds
1,946,282,738
1,615,778,416
Bank Overdraft
(7,805,799)
(27,613,532)
3,248,258,044
3,177,849,028
1
* The above figures are provisional and subject to audit.
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Asia Asset Finance Ltd. published this content on 21 October 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 October 2022 05:19:04 UTC.
Asia Asset Finance PLC is a Sri Lanka-based company, which is a subsidiary of Muthoot Finance Ltd and a fully licensed, deposit-taking institution registered with the Central Bank of Sri Lanka. The Company operates through six segments: Finance lease, Hire purchase, Gold Loan, Loans and advances, Investment, and Other. The principal activities of the Company comprise granting leases, hire purchasing, mortgage loans, personal loans, group personal loans, gold loans, micro finance loans, pledge loans, cheque and invoice discounting and mobilization of public deposits. The Companyâs products and services include gold loans, fixed deposits, leasing, foreign exchange, and mortgage. Its branch network includes Vavuniya, Oddusuddan, Changani, Nelliady, Beruwala, Pundaluoya, Mathugama, Udappuwa, Monaragala, Kinniya, Mahiyanganaya, Puttalam, Kalawanchikudi, Badulla, Kalpitiya, Maskeliya and other.