Sri Lanka Telecom PLC
Interim Condensed Consolidated Financial Statements
For the Quarter ended
30 June 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 | ||
Apr-Jun | ||
2023 | 2022 | |
(Reviewed) | (Reviewed) | |
Revenue | 26,173 | 26,936 |
Direct costs | (16,743) | (15,916) |
Gross Profit | 9,430 | 11,020 |
Sales and marketing costs | (2,798) | (2,495) |
Administrative costs | (6,388) | (5,160) |
Operating profit | 244 | 3,365 |
Other income | 311 | 235 |
Dividend Income from subsidiaries | ||
- and associates | - | - |
Interest expenses and finance cost | (3,392) | (782) |
Foreign exchange gain/ (loss) | 224 | 135 |
Interest income | 314 | 770 |
Share of profit / (loss) from equity | ||
- accounted investee | 5 | 22 |
Profit / (loss) before tax | (2,294) | 3,745 |
Income tax expenses / (reversal) | 178 | (1,785) |
Profit / (loss) for the Period | (2,116) | 1,960 |
Other comprehensive income | ||
Net change in fair value financial assets | (1) | - |
Defined benefit plan actuarial gain/ (loss) | 43 | (13) |
Tax on other comprehensive income | 18 | 3 |
Other comprehensive income for the period | ||
(net of tax) | 60 | (10) |
Total Comprehensive Income for the Period | (2,056) | 1,950 |
Profit /(loss) Attributable to : | ||
Owners of the company | (2,118) | 1,959 |
Non-controlling interest | 2 | 1 |
(2,116) | 1,960 | |
Total Comprehensive Income attributable to: | ||
Owners of the company | (2,058) | 1,949 |
Non-controlling interest | 2 | 1 |
(2,056) | 1,950 | |
Earnings per share | ||
- Basic (Rs.) | (1.17) | 1.09 |
Company
Apr-Jun
2023 | 2022 |
(Reviewed) | (Reviewed) |
17,085 | 16,685 |
(10,078) | (10,132) |
7,007 | 6,553 |
(1,411) | (1,440) |
(4,685) | (4,209) |
911 | 904 |
329 | 239 |
- | 2,185 |
(3,045) | (447) |
(27) | 2,274 |
273 | 428 |
- | |
5 | 22 |
(1,554) | 5,605 |
527 | (1,382) |
(1,027) | 4,223 |
- | - |
44 | (13) |
(13) | 4 |
31 | (9) |
(996) | 4,214 |
(1,027) | 4,223 |
- | - |
(1,027) | 4,223 |
- 4,214
- 4,214
-2-
Group
Jan - Jun
2023 | 2022 |
(Reviewed) | (Reviewed) |
52,727 | 52,937 |
(32,628) | (30,678) |
20,099 | 22,259 |
(5,597) | (5,189) |
(12,160) | (10,470) |
2,342 | 6,600 |
1,070 | 809 |
- | - |
(5,615) | (1,514) |
632 | (70) |
867 | 1,280 |
- | 95 |
(704) | 7,200 |
(455) | (2,575) |
(1,159) | 4,625 |
- -
34985
- (22)
27463
- 4,688
34
(1,159) 4,625
- 4,684
34
- 4,688
(0.64) 2.56
Company
Jan - Jun
2023 | 2022 |
(Reviewed) | (Reviewed) |
34,645 | 32,551 |
(19,922) | (19,353) |
14,723 | 13,198 |
(2,693) | (2,799) |
(9,146) | (8,364) |
2,884 | 2,035 |
1,147 | 529 |
- 5,536
581688
- 10,138
318 (1,798)
- 8,340
34884
- (20)
24464
- 8,404
- 8,340
- 8,340
- 8,404
- 8,404
(0.22) 4.62
Sri Lanka Telecom PLC
Company Registration No. PQ 7
Interim Condensed Consolidated Statement of Financial Position
(All amounts in LKR Millions ) | ||||||
Group | Company | |||||
30 Jun 2023 | 31 Dec 2022 | 30 Jun 2023 | 31 Dec 2022 | |||
(Reviewed) | (Audited) | (Reviewed) | (Audited) | |||
Assets | ||||||
Non-Current Assets | ||||||
Property,plant and equipment | 170,930 | 164,916 | 132,984 | 127,061 | ||
Right-of-use assets | 6,363 | 6,899 | 1,075 | 613 | ||
Intangible assets and goodwill | 8,348 | 7,876 | 3,235 | 3,643 | ||
Investments in subsidiaries | - | - | 14,431 | 14,431 | ||
Investments in associates | 439 | 439 | 439 | 439 | ||
Deferred tax assets | 211 | 177 | - | - | ||
Investments In equity Shares | 2 | 2 | - | - | ||
Contract assets | 1,336 | 1,504 | 322 | 313 | ||
Other receivables | 3,505 | 3,320 | 3,490 | 3,295 | ||
Total Non-current Assets | 191,134 | 185,133 | 155,976 | 149,795 | ||
Current Assets | ||||||
Inventories | 4,199 | 3,283 | 3,143 | 2,405 | ||
Trade and other receivables | 34,009 | 32,533 | 22,817 | 23,677 | ||
Current tax receivables | 18 | 20 | - | - | ||
Contract assets | 1,560 | 1,470 | 129 | 122 | ||
Other investments | 1,442 | 3,995 | 1,322 | 3,976 | ||
Cash and cash equivalents | 12,405 | 14,150 | 5,084 | 6,051 | ||
Total Current Assets | 53,633 | 55,451 | 32,495 | 36,231 | ||
Total Assets | 244,767 | 240,584 | 188,471 | 186,026 | ||
Equity and Liabilities | ||||||
Equity | ||||||
Stated capital | 18,049 | 18,049 | 18,049 | 18,049 | ||
Insurance reserve | 300 | 300 | 300 | 300 | ||
Retained earnings | 72,688 | 74,024 | 50,589 | 51,197 | ||
Equity attributable to equity share - holders | ||||||
of the company | 91,037 | 92,373 | 68,938 | 69,546 | ||
Non controlling Interest | 118 | 115 | - | - | ||
Total Equity | 91,155 | 92,488 | 68,938 | 69,546 | ||
Non Current Liabilities | ||||||
Borrowings | 37,844 | 30,332 | 37,854 | 30,332 | ||
Vendor financing | 14,377 | 13,057 | 14,377 | 13,057 | ||
Lease liability | 4,332 | 4,835 | 569 | 428 | ||
Contract liabilities | 1,741 | 1,483 | 1,741 | 1,483 | ||
Deferred income | 1,353 | 1,469 | 1,353 | 1,469 | ||
Deferred tax liabilities | 9,073 | 9,066 | 7,789 | 8,002 | ||
Employee benefits | 5,731 | 5,733 | 4,810 | 4,846 | ||
Trade and other payables | 7,141 | 8,696 | 4,273 | 7,804 | ||
Total Non Current Liabilities | 81,592 | 74,671 | 72,766 | 67,421 | ||
Current Liabilities | ||||||
Borrowings | 21,307 | 16,963 | 15,210 | 13,310 | ||
Vendor financing | 3,715 | 4,269 | 3,278 | 1,745 | ||
Lease liability | 2,549 | 2,661 | 565 | 227 | ||
Contract liabilities | 1,080 | 972 | 792 | 716 | ||
Deferred income | 3,934 | 3,852 | 330 | 221 | ||
Current tax liabilities | 767 | 1,124 | 158 | 441 | ||
Deferred tax liabilities | 12 | 12 | - | - | ||
Trade and other payables | 38,656 | 43,572 | 26,434 | 32,399 | ||
Total Current Liabilities | 72,020 | 73,425 | 46,767 | 49,059 | ||
Total Liabilities | 153,612 | 148,096 | 119,533 | 116,480 | ||
Total Equity and Liabilities | 244,767 | 240,584 | 188,471 | 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 11 August 2023.
Signed for and behalf of the Board.
Signed | Signed |
Reyaz Mihular | K.A.Vimalenthirarajah |
Chairman | Director |
Sri Lanka Telecom PLC
Company Registration No. PQ 7
Interim Condensed Consolidated Statement of Changes In Equity
For the six months ended 30 June 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 | - | - | - | - | 3 | 3 |
Total comprehensive income for period | ||||||
Net loss for the period | - | - | (1,159) | (1,159) | - | (1,159) |
Other comprehensive income /(expense) | ||||||
Net change in fair value financial assets | - | - | (1) | (1) | - | (1) |
Defined benefit plan actuarial gain,net of tax | - | - | 275 | 275 | - | 275 |
Total other comprehensive income for period | - | - | 274 | 274 | - | 274 |
Total comprehensive income for the period | - | - | (885) | (885) | - | (885) |
Transactions with owners, recorded directly in equity | ||||||
Contribution by and distribution to owners | ||||||
Dividends to equity share holders | - | - | (451) | (451) | - | (451) |
Balance as at 30 June 2023 | 18,049 | 300 | 72,688 | 91,037 | 118 | 91,155 |
Sri Lanka Telecom PLC
Company Registration No. PQ 7
Interim Condensed Consolidated Statement of Changes In Equity
For the six months ended 30 June 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 loss for the period | - | - | (401) | (401) |
Other comprehensive income / (expense) | ||||
Defined benefit plan actuarial gain,net of tax | - | - | 244 | 244 |
Total other comprehensive income for period | - | - | 244 | 244 |
Total comprehensive income for the period | - | - | (157) | (157) |
Transactions with owners,recorded directly in equity | ||||
Contribution by and distribution to owners | ||||
Dividends to equity share holders | - | - | (451) | (451) |
Balance as at 30 June 2023 | 18,049 | 300 | 50,589 | 68,938 |
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Sri Lanka Telecom plc published this content on 12 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 12 August 2023 08:08:06 UTC.