Interim Financial Statement for the Quarter ended 30th June 2022

CEYLON TEA BROKERS PLC

Statement of Profit or Loss and Other Comprehensive Income for the Period Ended 30th June

GROUP

COMPANY

For the Quarter Ended

Variance

For the Quarter Ended

Variance

30.06.2022

30.06.2021

%

30.06.2022

30.06.2021

%

Rs.

Rs.

Rs.

Rs.

Revenue

391,355,172

191,787,248

104%

253,153,562

145,962,503

73%

Operating Expenses

(141,353,173)

(56,490,543)

150%

(26,125,995)

(13,124,697)

99%

Gross Profit

250,001,999

135,296,705

85%

227,027,567

132,837,806

71%

Marketing Expenses

(8,148,251)

(9,097,667)

-10%

(7,107,286)

(8,010,938)

-11%

Administration Expenses

(121,207,449)

(77,104,772)

57%

(101,960,436)

(63,731,151)

60%

Net Finance Expenses

(46,308,089)

(30,230,071)

53%

(31,749,058)

(16,853,216)

88%

Profit Before Taxation

294%

95%

74,338,210

18,864,194

86,210,787

44,242,500

Taxation

(28,562,927)

(13,047,751)

119%

(28,562,927)

(13,047,751)

119%

Profit / (Loss) After Taxation

687%

85%

45,775,283

5,816,443

57,647,860

31,194,749

Other Comprehensive Income/(Loss)

-

-

-

-

Profit / (Loss) for the Period

687%

85%

45,775,283

5,816,443

57,647,860

31,194,749

Earnings / (Loss) Per Share

0.25

0.03

0.32

0.17

Stated

Revaluation

Retained

Total

Capital

Reserve

Earnings

GROUP

Rs.

Rs.

Rs.

Rs.

Balance as at 01.04.2021

333,200,000

-

97,824,452

431,024,452

Profit for the period ended 30.06.2021

-

-

5,816,443

5,816,443

Dividend Paid

-

-

(63,840,000)

(63,840,000)

Balance as at 30.06.2021

333,200,000

-

39,800,895

373,000,895

Balance as at 01.04.2022

333,200,000

129,759,524

47,391,079

510,350,603

Profit for the period ended 30.06.2022

-

-

45,775,283

45,775,283

Balance as at 30.06.2022

333,200,000

129,759,524

93,166,362

556,125,886

COMPANY

Balance as at 01.04.2021

333,200,000

-

300,243,668

633,443,668

Profit for the period ended 30.06.2021

-

-

31,194,749

31,194,749

Dividend Paid

-

-

(63,840,000)

(63,840,000)

Balance as at 30.06.2021

333,200,000

-

267,598,417

600,798,417

Balance as at 01.04.2022

333,200,000

-

341,804,020

675,004,020

Profit for the period ended 30.06.2022

-

-

57,647,860

57,647,860

Balance as at 30.06.2022

333,200,000

-

399,451,880

732,651,880

GROUP

COMPANY

30.06.2022

30.06.2021

30.06.2022

30.06.2021

Rs.

Rs.

Rs.

Rs.

Cash Flow From Operating Activities

Profit Before Taxation

74,338,210

18,864,194

86,210,787

44,242,500

Adjustments for ;

Depreciation/Amortisation

27,557,992

17,370,836

6,371,292

5,800,118

Interest Income

(7,578,693)

(401,116)

(7,399,402)

(388,098)

Interest Expense

54,015,262

31,524,079

39,831,625

18,322,183

Disposal (Profit)/Loss on Property,Plant and Equipment

(42,120)

(37,270)

(42,120)

-

Provision for Retirement Benefit Obligation

1,800,000

1,800,000

1,500,000

1,500,000

Provision for Bad and Doubtful Debt

4,500,000

6,000,000

4,500,000

6,000,000

Cash Generated from/(Used In)Operating Activities Before

Working Capital Changes

154,590,651

75,120,723

130,972,182

75,476,702

Increase/Decrease in Working Capital

(Increase)/ Decrease in Trade and Other Receivables

(189,383,755)

(36,510,584)

(157,189,633)

(27,496,434)

Loans & Advances (Disburstments)/Recoveries From (To) Tea

Suppliers

(29,632,587)

27,231,392

(29,632,587)

27,231,392

Increase/(Decrease) in Trade and Other Payables

222,542,499

(42,127,278)

202,381,159

(15,567,344)

(Increase)/Decrease in Related Party Receivable

-

-

565,942

(67,664,208)

Cash Generated from/(Used In) Operating Activities

158,116,807

23,714,254

147,097,064

(8,019,891)

Tax Paid

(7,500,000)

(10,080,000)

(7,500,000)

(10,080,000)

Gratuity Paid

(164,000)

(120,375)

(164,000)

(120,375)

Net Cash Generated from/(Used In) Operating Activities

150,452,807

13,513,879

139,433,064

(18,220,266)

Cash Flow From Investing Activities

Interest Received

7,460,476

294,614

7,281,185

281,596

Proceeds from sale of Assets

42,120

389,426

42,120

99,341

Investment made during the year

(506,315,093)

-

(506,315,093)

-

Purchase of Property, Plant & Equipment

(2,524,489)

(2,641,874)

(2,094,589)

(650,408)

Net Cash Generated from/(Used In) Investing Activities

(501,336,986)

(1,957,834)

(501,086,376)

(269,471)

Cash Flow From Financing Activities

Interest Paid

(53,332,104)

(30,222,934)

(39,148,460)

(17,192,714)

Lease Payments

(11,420,522)

(6,022,014)

(5,986,705)

(5,476,140)

Dividend Paid

-

(63,840,000)

-

(63,840,000)

Movement in Interest Bearing Borrowings

Loan repayment made during the period

(310,971,262)

(755,751,113)

(296,961,635)

(617,294,286)

Loan obtained during the period

290,000,000

806,784,058

290,000,000

681,784,058

Net Cash Generated from/(Used In) Financing Activities

(85,723,888)

(49,052,002)

(52,096,800)

(22,019,082)

Net Decrease in Cash and Cash Equivalents

(436,608,069)

(37,495,961)

(413,750,110)

(40,508,816)

Cash and Cash Equivalents at the Beginning of the Period

(1,886,320)

20,968,907

(723,821)

57,776,716

Cash and Cash Equivalents at the End of the Period

(438,494,391)

(16,527,054)

(414,473,931)

17,267,900