Alliance Finance Company PlcCSELK: ALLI.N0000

Quarterly financials 30/6/2022

Aug 15, 2022 at 11:32 AM UTC · Issued by Alliance Finance Company Plc

Financial Statements

for the Three Months Ended

30th June 2022

The first financial institution in South Asia to receive the SSCI Certification,the world's first measurable and certifiable standard for value driven financial institutions with holistic sustainability integration to the business.

Alliance Finance Company PLC

STATEMENT OF PROFIT OR LOSS
			Company				Group
For the Three months ended 30th June	2022	2021		2022	2021

	(unaudited)		(unaudited)	Variance	(unaudited)		(unaudited)	Variance
	Rs.		Rs.	%	Rs.		Rs.	%
Gross Income	2,721,490,515	1,766,018,783	54.10	2,752,066,072	1,783,041,635	54.35
Interest income	2,557,737,725	1,658,764,105	54.20	2,559,600,096	1,659,570,385	54.23
Interest expenses	(1,242,769,193)		(600,549,000)	106.94	(1,242,769,193)		(600,549,000)	106.94
Net Interest Income	1,314,968,532	1,058,215,105	24.26	1,316,830,903	1,059,021,385	24.34
Fee and commission income	46,452,546	34,828,310	33.38	71,287,263	51,044,882	39.66
Fee and commission expenses	(68,849,244)		(53,205,720)	29.40	(68,849,244)		(53,205,714)	29.40
Net Fee and Commission Income	(22,396,698)	(18,377,410)	21.87	2,438,019	(2,160,832)	212.83
Net gain/(loss) from trading	22,481,432	(1,077,293)	2,186.84	24,197,177	(1,077,293)	2,346.11
Other operating income (net)	94,818,812		73,503,661	29.00	96,981,536		73,503,661	31.94
Total Operating Income	1,409,872,078	1,112,264,063	26.76	1,440,447,635	1,129,286,921	27.55
Impairment (charges) / reversal for loans
and other losses	(278,835,868)		(480,811,839)	(42.01)	(278,835,868)		(480,811,839)	(42.01)
Net Operating Income	1,131,036,210	631,452,224	79.12	1,161,611,767	648,475,082	79.13
Operating Expenses
Personnel expenses	(302,062,046)	(204,327,291)	47.83	(305,070,768)	(207,156,349)	47.27
Other operating expenses	(461,206,974)	(297,983,681)	54.78	(463,263,281)	(299,598,574)	54.63
Depreciation and amortization	(38,389,261)		(29,792,332)	28.86	(38,559,947)		(29,837,230)	29.23
Total operating expenses	(801,658,281)	(532,103,304)	50.66	(806,893,996)	(536,592,153)	50.37
Operating Profit before Taxes on Financial
Services	329,377,929	99,348,920	231.54	354,717,771	111,882,929	217.04
Taxes on financial services	(126,829,307)	(44,190,317)	187.01	(126,829,307)	(44,190,317)	187.01
Operating Profit after Taxes on Financial
202,548,622	55,158,603	267.21	227,888,464	67,692,612	236.65
Services

Share of profit/(loss) from associates	9,801,370		(938,394)	1,144.48	9,801,370		(938,394)	1,144.48
Profit before Taxation from Operations	212,349,992	54,220,209	291.64	237,689,834	66,754,218	256.07
Provision for income taxation	(155,574,435)		(26,477,073)	487.58	(165,126,690)		(29,547,853)	458.84
Profit for the Period	56,775,557	27,743,136	104.65	72,563,144	37,206,365	95.03
Profit attributable to :

Equity holders of the Company	-	-		65,642,172	33,793,927	94.24
Non controlling interest	-		-		6,920,972		3,412,438	102.82
Profit for the Period	56,775,557	27,743,136		72,563,144	37,206,365
Basic/ Diluted earnings per share

(Annualized)	6.74	3.29		7.79	4.01
Dividend Per Share (Rs./Cts.)	-	-		-	-

Alliance Finance Company PLC

STATEMENT OF OTHER COMPREHENSIVE INCOME
			Company				Group
For the Three months ended 30th June	2022	2021		2022	2021
	(unaudited)		(unaudited)	Variance	(unaudited)		(unaudited)	Variance
	Rs.		Rs.	%	Rs.		Rs.	%
Profit for the period	56,775,557	27,743,136	104.65	72,563,144	26,150,752	177.48
Other Comprehensive Income not to
be Reclassified to Profit or Loss
Equity investments at FVOCI - net
change in fair value and disposal gain /
(loss)	(44,265,862)	(11,828,117)	274.24	(44,265,862)	(11,828,117)	274.24
Net Other Comprehensive Income not
be Classified to Profit or Loss	(44,265,862)	(11,828,117)	274.24	(44,265,862)	(11,828,117)	274.24

Total Comprehensive Income for the

period	12,509,695	15,915,019	(21.40)	28,297,283	14,322,635	97.57
Attributable to:

Equity holders of the company	-	-		21,376,311	51,508,808	(58.50)
Non controlling interest	-	-		6,920,972	3,801,610	82.05
Total Comprehensive Income for the
period	12,509,695	15,915,019	(21.40)	28,297,284	55,310,418	(48.84)

Alliance Finance Company PLC

STATEMENT OF FINANCIAL POSITION

		Company				Group
As at	30-06-2022	31-03-2022		30-06-2022	31-03-2022
	(unaudited)	(audited)	Variance	(unaudited)		(audited)	Variance
	Rs.	Rs.	%	Rs.		Rs.	%
Assets
Cash and cash equivalents	683,866,515	795,260,944	(14.01)	768,137,386	898,748,640	(14.53)
Repurchase agreements	100,297,260	250,000,000	(59.88)	100,297,260	250,000,000	(59.88)
Placements with banks & financial institutions	600,573,441	287,925,208	108.59	600,573,441	287,925,208	108.59
Financial assets recognized through profit or	3,701,777,638	1,502,280,225	146.41	3,701,777,638	1,502,280,225	146.41
loss

Loans and advances - at amortized cost	15,592,838,774	14,797,772,357	5.37	15,592,838,774	14,797,772,357	5.37
Lease rentals receivable & stock out on hire - at
amortized cost	25,245,383,866	25,503,747,256	(1.01)	25,245,383,866	25,503,747,256	(1.01)
Financial assets- fair value through other	140,454,948	184,720,884		140,454,948	184,720,884
comprehensive income	(23.96)	(23.96)

Other trading stocks	291,874,248	392,525,744	(25.64)	291,874,248	392,525,744	(25.64)
Other financial assets	617,028,193	636,340,449	(3.03)	609,507,038	630,656,592	(3.35)
Other non financial assets	234,529,189	243,886,129	(3.84)	235,004,512	244,361,452	(3.83)
Derivative financial assets	40,792,849	82,923,194	(50.81)	40,792,849	82,923,194	(50.81)
Investments in associates	59,639,717	49,838,347	19.67	92,894,214	83,092,843	11.80
Investments in subsidiaries	16,924,038	16,924,038	-	-	-	-
Investment property	159,590,100	159,590,100	-	245,250,516	245,250,516	-
Property, plant & equipment	2,545,331,251	2,502,324,245	1.72	2,546,326,596	2,503,442,359	1.71
Intangible assets	124,186,235	126,715,431	(2.00)	124,603,385	127,180,497	(2.03)
Right of use asset	369,060,216	397,784,021	(7.22)	369,060,216	397,784,021	(7.22)
Deferred tax assets	209,679,475	209,679,475	-	210,485,254		210,485,254	-
Total Assets	50,733,827,953	48,140,238,048	5.39	50,915,262,141	48,342,897,042
Liabilities

Due to banks	23,717,390,542	22,558,061,981	5.14	23,756,051,742	22,558,061,981	5.31
Due to depositors	17,885,968,459	14,681,375,682	21.83	17,810,968,459	14,681,375,682	21.32
Debt instruments issued and other borrowed	-	867,759,553	(100.00)	-	867,759,553	(100.00)
funds

Other financial liabilities	843,611,850	1,670,249,511	(49.49)	870,501,258	1,704,808,662	(48.94)
Other non financial liabilities	110,775,042	184,106,172	(39.83)	110,775,042	184,106,173	(39.83)
Income tax liabilities	848,731,474	865,153,792	(1.90)	859,841,381	869,537,847	(1.12)
Retirement benefit liabilities	122,738,205	121,428,671	1.08	125,906,029	124,326,196	1.27
Deferred tax liabilities	510,728,430	510,728,430	-	510,728,430		510,728,430	-
Total Liabilities	44,039,944,002	41,458,863,792	6.23	44,044,772,341	41,500,704,524	6.13
Shareholders' Funds
Stated capital	613,980,000	613,980,000	-	613,980,000	613,980,000	-
Retained earnings	3,557,013,925	3,500,238,368	1.62	3,654,219,994	3,588,577,822	1.83
Reserves	2,522,890,026	2,567,155,888	(1.72)	2,522,890,026		2,567,155,888	(1.72)
Total Equity Attributable to Equity Holders of	6,693,883,951	6,681,374,256	0.19	6,791,090,020	6,769,713,710	0.32
the Company

Non controlling interest	-	-		79,399,780		72,478,808	9.55
Total Equity	6,693,883,951	6,681,374,256	0.19	6,870,489,800	6,842,192,518	0.41
Total Liabilities and Shareholders' Funds
50,733,827,953	48,140,238,048	5.39	50,915,262,141	48,342,897,042	5.32

Contingent Liabilities and Commitments	30,915,571	38,415,571		30,915,571	38,415,571
Net assets value per share (Rs.)	199	198		202	201

Certification

I certify that these Financial Statements are presented in compliance with the requirements of the Companies Act No. 07 of 2007.

…………………………..	…………………………..	…………………………..
Dimuthu Tillekeratne	Kusal Jayawardana	Romani De Silva
AGM - Finance	Deputy Managing Director	Deputy Chairman & Managing Director
15-Aug-22
Colombo

Alliance Finance Company PLC

STATEMENT OF CHANGES IN EQUITY

Stated Capital	Statutory Reserve	Revaluation	General Reserve	FVOCI	Non	Retained Earnings	Total
Company	Fund	Reserve			Controlling

					Interest
Rs.	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.

Balance as at 1st April 2021 (Audited)	613,980,000	904,081,009	1,556,017,602	388,258,055	58,527,420	-	2,295,549,890	5,816,413,977
Profit for the period	-	-	-	-	-	-	27,743,136	27,743,136
Other comprehensive income, net of tax
Equity investments at FVOCI - net change in fair value	-	-	-	-	(11,828,117)	-	-	(11,828,117)
Transfer of realised profit from equity investment									13,181,214		(13,181,214)
Balances as at 30th June 2021 (Unaudited)	613,980,000		904,081,009		1,556,017,602		388,258,055		59,880,517	-	2,310,111,812	5,832,328,996

Balance as at 1st April 2022 (Audited)	613,980,000	977,236,040	1,223,390,151	388,258,055	(21,728,358)	-	3,500,238,368	6,681,374,256
Profit for the period	-	-	-	-	-	-	56,775,557	56,775,557
Other comprehensive income, net of tax				-							-
Equity investments at FVOCI - net change in fair value	-		-		-		-		(44,265,862)	-	-	(44,265,862)
Balances as at 30th June 2022 (Unaudited)	613,980,000	977,236,040	1,223,390,151	388,258,055	(65,994,220)	-	3,557,013,925	6,693,883,951

Figures in brackets indicate deductions.

Accounting policies & notes to accounts form an integral part of these Financial Statements.

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