Softlogic Capital PlcCSELK: SCAP.N0000

Interim Financial Statements as of 30th September 2024

Dec 13, 2024 at 3:48 PM UTC · Issued by Softlogic Capital Plc

SOFTLOGIC CAPITAL PLC

(PB 779 PQ)

Interim Financial Statements

Period ended 30th September 2024

SOFTLOGIC CAPITAL PLC

INCOME STATEMENT

			Company
	Three months ended 30th September	Six months ended 30th September
	2024	2023	Change %	2024	2023	Change %
	Rs.	Rs.		Rs.	Rs.
Revenue
Interest income	154,418,748	301,542,346	-49%	296,695,373	602,123,544	-51%
Fee and trading income	49,226,811	55,581,468	-11%	103,758,279	91,805,239	13%
Other income and gains	7,354,200	9,033,277	-19%	20,019,554	11,906,228	68%
Dividend income	2,637,662,336	-	100%	2,637,662,336	-	100%
Total revenue	2,848,662,094	366,157,092	678%	3,058,135,541	705,835,012	333%
Direct expenses
Interest expenses	(508,352,319)	(635,354,556)	-20%	(1,055,242,951)	(1,310,170,141)	-19%
Other direct expenses	(27,902,134)	(7,016,085)	298%	(36,187,938)	(11,187,031)	223%
Operating profit / (loss)	2,312,407,642	(276,213,549)	937%	1,966,704,652	(615,522,160)	420%
Administrative expenses	(54,230,339)	(59,124,856)	-8%	(78,291,529)	(95,577,157)	-18%
Distribution cost	(7,889,508)	(8,266,956)	-5%	(11,147,516)	(8,626,066)	29%
Other operating expenses	(2,653,950)	(77,225)	3337%	(4,848,604)	(116,324)	4068%
Profit / (loss) before tax	2,247,633,845	(343,682,586)	754%	1,872,417,003	(719,841,707)	360%
Income tax expense	-	-	-	-	-	-
Profit / (Loss) for the Period
2,247,633,845	(343,682,586)	754%	1,872,417,003	(719,841,707)	360%
Basic Earning / (Loss) per share (Rs.)	2.30	(0.32)		1.92	(0.56)

The above figures are subject to audit unless stated otherwise. 13th December 2024

SOFTLOGIC CAPITAL PLC

INCOME STATEMENT

			Group
	Three months ended 30th September		Six months ended 30th September
	2024	2023	Change %	2024	2023	Change %
	Rs.	Rs.		Rs.	Rs.
Revenue
Interest income	1,869,075,228	2,555,202,574	-27%	4,163,506,558	5,386,851,998	-23%
Net Earned Premium	6,770,903,182	5,479,222,981	24%	13,493,319,494	11,324,107,214	19%
Fee and trading income	42,024,549	107,751,196	-61%	130,854,978	138,338,798	-5%
Other income and gains	45,275,102	40,196,393	13%	119,191,857	130,664,693	-9%
Realised gains	2,476,950,685	88,383,032	2703%	2,491,048,920	102,934,178	2320%
Fair value gains and losses	(1,094,488,440)	234,405,400	-567%	67,789,780	512,724,630	-87%
Dividend income	-	-		18,500	-	100%
Total revenue	10,109,740,306	8,505,161,576	19%	20,465,730,087	17,595,621,511	16%
Direct expenses
Interest expenses	(851,681,313)	(1,493,118,237)	-43%	(1,895,941,330)	(3,250,721,295)	-42%
Net claims and net acquisition cost	(5,118,145,555)	(4,529,359,991)	13%	(9,970,794,557)	(9,094,062,594)	10%
Other direct expenses	(63,186,450)	(50,234,328)	26%	(113,914,376)	(77,610,875)	47%
Credit loss expense on financial assets and other
loans	(124,383,547)	(76,223,485)	63%	(340,618,883)	(163,075,767)	109%
Operating profit	3,952,343,441	2,356,225,535	68%	8,144,460,941	5,010,150,980	63%
Administrative expenses	(1,724,644,392)	(1,442,321,892)	20%	(3,117,527,267)	(2,919,990,004)	7%
Distribution cost	(214,271,997)	(246,025,614)	-13%	(413,267,021)	(504,965,297)	-18%
Change in insurance contract liabilities	(1,178,189,317)	(531,580,973)	122%	(2,554,038,222)	(1,443,753,109)	77%
Other operating expenses	(109,916,241)	86,328,892	-227%	(186,921,122)	(156,477,974)	19%
Profit / (loss) before income tax	725,321,494	222,625,948	226%	1,872,707,309	(15,035,404)	-12555%
Income tax expense	(786,195,308)	(252,605,539)	211%	(1,308,936,211)	(456,336,203)	187%

Profit / (loss) for the Period	(60,873,814)	(29,979,591)	103%	563,771,098	(471,371,607)	-220%
Profit / (loss) for the period attributable to;
Owners of the parent	(435,282,661)	(318,940,471)		(369,941,858)	(958,522,377)
Non-controlling interests	374,408,847	288,960,880		933,712,956	487,150,770
	(60,873,814)	(29,979,591)		563,771,098	(471,371,607)
Basic Loss per share (Rs.)	(0.45)	(0.33)		(0.38)	(0.98)

The above figures are subject to audit unless stated otherwise. 13th December 2024

SOFTLOGIC CAPITAL PLC

STATEMENT OF COMPREHENSIVE INCOME

		Company
	Three months ended 30th September		Six months ended 30th September
	2024	2023		2024	2023
	Rs.	Rs.		Rs.	Rs.
Loss for the Period	2,247,633,845	(343,682,586)		1,872,417,003	(719,841,707)
Other comprehensive income that will not be
reclassified to income statement in subsequent periods
Net gain / (loss) on equity instruments at fair value through
other comprehensive income	11,577,102	37,476,736		21,602,745	47,502,378
Repurchase of Shares				(2,245,668,344)
Net other comprehensive income that will not be

reclassified to income statement in subsequent periods	11,577,102	37,476,736		(2,224,065,599)	47,502,378
Other Comprehensive Income for the period, net of tax
11,577,102	37,476,736		(2,224,065,599)	47,502,378

Total comprehensive loss for the period
2,259,210,948	(306,205,850)		(351,648,596)	(672,339,330)

The above figures are subject to audit unless stated otherwise. 13th December 2024

SOFTLOGIC CAPITAL PLC

STATEMENT OF COMPREHENSIVE INCOME

		Group
	Three months ended 30th September		Six months ended 30th september
	2024	2023		2024	2023
	Rs.	Rs.		Rs.	Rs.
Profit / (loss) for the Period	(60,873,814)	(29,979,591)		563,771,098	(471,371,607)
Other comprehensive income that may be reclassified
to income statement in subsequent periods
Net gain/(loss) on financial instruments at fair value
through other comprehensive income	120,542,348	248,409,501		128,734,087	474,643,316
Net Other comprehensive income that may be
reclassified to income statement in subsequent periods	120,542,348	248,409,501		128,734,087	474,643,316
Other comprehensive income that will not be
reclassified to income statement in subsequent periods
Net gain / (loss) on equity instruments at fair value through
other comprehensive income	(76,705,818)	501,489,096		360,437,666	641,972,730
Net other comprehensive income that will not be
reclassified to income statement in subsequent periods	(76,705,818)	501,489,096		360,437,666	641,972,730
Other Comprehensive Income for the period, net of
43,836,530	749,898,597		489,171,753	1,116,616,046
tax
Total comprehensive income for the period
(17,037,284)	719,919,006		1,052,942,851	645,244,439
Attributable to:
Owners of the parent	(402,188,267)	84,481,446		(108,189,484)	(355,411,034)
Non controlling interest	385,150,982	635,437,560		1,161,132,334	1,000,655,473
Total Comprehensive income for the period	(17,037,285)	719,919,006		1,052,942,850	645,244,439

The above figures are subject to audit unless stated otherwise. 13th December 2024

SOFTLOGIC CAPITAL PLC

STATEMENT OF FINANCIAL POSITION

	Group
As at 30th September 2024	30.09.2024	31.03.2024
	Rs.	Rs.
ASSETS
Cash and cash equivalents	4,452,914,636	1,889,298,666
Amounts due from related companies	323,406,365	23,716,724
Other assets	4,280,272,929	3,013,600,792
Income tax receivable	82,642	257,061,756
Financial assets recognized through profit or loss	5,031,642,814	5,720,620,686
Financial assets measured at fair value through other
comprehensive income	9,296,474,267	5,695,523,136
Other financial assets at amortised cost	32,436,362,923	37,078,798,424
Loans and advances	2,502,272,429	3,840,154,976
Lease and hirepurchase receivables	2,472,885,173	3,998,539,625
Investment in subsidiaries	-	-
Deferred tax asset	1,355,963,721	1,348,202,904
Right of use assets	616,789,548	655,423,448
Investment Property	103,237,000	103,237,000
Property, plant and equipment	741,021,559	762,311,176
Intangible assets	1,325,499,938	1,395,869,850
TOTAL ASSETS	64,938,825,944	65,782,359,163
EQUITY AND LIABILITIES

Capital and reserves
Stated capital	3,891,595,200	3,891,595,200
Reserve fund	262,345,577	260,448,732
Fair Value Reserve	(1,094,255,414)	(1,374,558,535)
Other Fair Value Reserve on investment in subsidiary	-	-
Revaluation reserve	87,989,463	87,989,463
Restricted Regulatory Reserve	798,004,000	798,004,000
Non-Distributable Regulatory Loss Allowance Reserve	811,553,804	1,736,237,951
Retained earnings	(7,509,888,676)	(8,044,183,368)
Shareholders' funds	(2,752,656,046)	(2,644,466,557)
Non-controlling interest	6,931,029,466	6,421,096,628
Total equity	4,178,373,420	3,776,630,071
Liabilities
Bank overdraft	692,313,364	721,807,728
Trade and other payables	3,448,100,547	4,507,359,963
Amounts due to related companies	9,700,000	89,155,348
Other liabilities	1,179,475,907	415,567,185
Income tax liability	871,510,032	1,053,917,557
Interest bearing borrowings	19,279,052,938	19,636,174,393
Public deposits	4,612,881,806	7,481,717,550
Insurance provision	30,313,168,707	27,759,130,484
Employee benefit liabilities	352,757,621	339,407,280
Deferred tax liabilities	1,491,602	1,491,604
Total Liability	60,760,452,524	62,005,729,092

TOTAL EQUITY AND LIABILITIES	64,938,825,944	65,782,359,163

Contingent Liabilities and Commitments	294,136,386	563,741,450

Company

30.09.2024	31.03.2024
Rs.	Rs.
47,716,214	61,801,769
366,660,808	67,995,615
940,250,931	299,470,088
-	-
-	-
-	59,994,820
1,204,776,345	8,901,351
-	-
-	-
17,188,242,717	19,423,911,060
-	-
26,778,002	77,778,000
-	-
1,779,428	1,742,428
2,364,383	5,214,383
19,778,568,828	20,006,809,515

3,891,595,200	3,891,595,200
-	-
-	(40,153,489)
5,039,304,524	7,284,972,867
-	-
-	-
(3,704,637,772)	(5,558,504,031)
5,226,261,952	5,577,910,547
-	-
5,226,261,952	5,577,910,547
331,882,111	328,600,752
31,468,539	20,622,331
9,700,000	88,000,000
-	-
-	-
14,015,738,134	13,828,157,793
-	-
-	-
221,925	221,924
163,296,168	163,296,168
14,552,306,876	14,428,898,968

19,778,568,828	20,006,809,515

175,000,000	175,000,000

Net Assets Value per Share

(2.82)

(2.71)

5.35

5.71

The financial Statements are in compliance with the requirements of Companies Act No. 07 of 2007.

(Sgd.)

Dilan Christostom

Director - Finance

The Board of Directors is responsible for the preparation & presentation of these Financial statements. Signed for and on behalf of Board by;

(Sgd.)	(Sgd.)
Ashok Pathirage	H K Kaimal
Chairman	Director

The above figures are subject to audit unless stated otherwise. 13th December 2024

SOFTLOGIC CAPITAL PLC

STATEMENT OF CHANGES IN EQUITY

Group				Attributable to equity holders of the parent
As at 30th September 2024						Non-
					Distributable
								Minority Interest	Total Equity
					Restricted	Regulatory Loss

			Fair Value	Revaluation	Regulatory	Allowance	Retained
	Stated Capital	Reserve Fund	Reserve	Reserve	Reserve	Reserve	Earnings	Total
	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.
As at 01st April 2024	3,891,595,200	260,448,732	(1,374,558,535)	87,989,463	798,004,000	1,736,237,951	(8,044,183,368)	(2,644,466,557)	6,421,096,628	3,776,630,071
Profit / (Loss) for the Period	-	-	-				(369,941,858)	(369,941,858)	933,712,956	563,771,098
Transfer to Reserve Fund		1,896,845					(1,896,845)	-	-	-
Transfer to Non-Distributable Regulatory Loss Allowance Reserve						(924,684,147)	924,684,147	-	-	-
Other comprehensive income for the period	-	-	261,752,376					261,752,376	227,419,377	489,171,753
Total Comprehensive Income	-	1,896,845	261,752,376	-	-	(924,684,147)	552,845,444	(108,189,482)	1,161,132,333	1,052,942,851
Equity Investments in FVOCI-reclassified to retained earnings	-	-	18,550,744				(18,550,744)	-		-
Re-purchase of shares								-	(651,199,496)	(651,199,496)
Total transactions with owners, recognised directly in equity	-	-		-				-		-

As at 30th September 2024	3,891,595,200	262,345,577	(1,094,255,415)	87,989,463	798,004,000	811,553,804	(7,509,888,676)	(2,752,656,039)	6,931,029,465	4,178,373,426

	-	-	1	-	-			(7)	1	(6)

Group				Attributable to equity holders of the parent
As at 30th September 2023					Restricted	Non-			Minority Interest	Total Equity
			Fair Value	Revaluation	Regulatory	Distributable	Retained

	Stated Capital	Reserve Fund	Reserve	Reserve	Reserve	Regulatory Loss	Earnings	Total
	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.	Rs.
As at 01st April 2023	3,891,595,200	260,448,732	(1,806,203,820)	216,993,842	798,004,000	1,748,974,244	(2,729,795,739)	2,380,016,459	5,158,825,112	7,538,841,571
Profit for the Period	-	-	-				(958,522,377)	(958,522,377)	487,150,770	(471,371,607)
Equity Investments in FVOCI-reclassified to retained earnings
Other comprehensive income for the period	-	-	603,111,343					603,111,343	513,504,703	1,116,616,046
Total Comprehensive Income	-	-	603,111,343	-	-	-	(958,522,377)	(355,411,034)	1,000,655,473	645,244,439
Equity Investments in FVOCI-reclassified to retained earnings	-	-						-	-	-
Transfer to Retained Eranings
Share Issue Expenses
Total transactions with owners, recognised directly in equity	-	-	-

As at 30th September 2023	3,891,595,200	260,448,732	(1,203,092,477)	216,993,842	798,004,000	1,748,974,244	(3,688,318,116)	2,024,605,425	6,159,480,585	8,184,086,010

The above figures are subject to audit unless stated otherwise. 13th December 2024

SOFTLOGIC CAPITAL PLC

STATEMENT OF CHANGES IN EQUITY

Company	Stated	Fair value reserve	Fair Value	Retained	Total
As at 30th September 2024	Capital	on investment in	Reserve	Earnings
	Rs.	Subsidiary	Rs.	Rs.	Rs.
As at 01st April 2024	3,891,595,200	7,284,972,867	(40,153,489)	(5,558,504,031)	5,577,910,547
Profit for the period	-		-	1,872,417,003	1,872,417,003
Repurchase of Shares	-	(2,245,668,344)			(2,245,668,344)
Equity Investments in FVOCI -			18,550,744	(18,550,744)	-
Reclassified to Retained Earnings
Other comprehensive income	-		21,602,745	-	21,602,745
Total comprehensive income
-	(2,245,668,344)	40,153,489	1,853,866,259	(351,648,596)

As at 30th September 2024	3,891,595,200	5,039,304,523	-	(3,704,637,773)	5,226,261,951

Company	Stated	Fair value reserve	Fair Value	Retained	Total
As at 30th September 2023	Capital	on investment in	Reserve	Earnings
	Rs.	Subsidiary	Rs.	Rs.	Rs.
As at 01st April 2023	3,891,595,200	10,162,330,805	(83,067,326)	(804,064,701)	13,166,793,978
Loss for the period	-		-	(719,841,708)	(719,841,708)
Other comprehensive income	-		47,502,378	-	47,502,378
					-
Total comprehensive income	-		47,502,378	(719,841,708)	(672,339,330)

As at 30th September 2023	3,891,595,200	10,162,330,805	(35,564,948)	(1,523,906,409)	12,494,454,648

The above figures are subject to Audit unless stated otherwise.

13th December 2024

SOFTLOGIC CAPITAL PLC

STATEMENT OF CASH FLOW

	Group		Company
For the Six months ended 30th September	2024	2023	2024	2023

	Rs.	Rs.	Rs.	Rs.
CASH FLOWS FROM OPERATING ACTIVITIES
Profit/(loss) before tax	1,872,707,309	(15,035,404)	1,872,417,003	(719,841,708)
Adjustments for
Dividend Income	(18,500)		(2,637,662,336)
Profit on disposal of property, plant and equipment	(2,177,713)	(167,266)	-	-
Realized gain	(2,491,048,920)	(102,934,178)	-	-
Fair Value Gain/(loss)	(512,724,630)	(512,724,630)	-	-
Amortization of intangible assets	73,861,740	73,177,662	2,850,000	1,516,789
Impairemnt of financial assets at amortized cost	218,219,930
Unrealized exchange gain/loss	39,634,993	(366,013,967)	-	-
Interest expenses	1,895,941,330	3,250,721,295	1,055,242,951	1,310,170,141
Gratuity provision and related costs	34,581,018	34,352,821	-	-
Impairment of loans and receivable	(56,894,373)	163,075,767
Amortisation of right of use assets	199,817,885	170,388,206	51,000,000	52,173,636
Depreciation	79,959,120	85,260,402	18,500	497,363
Operating profit before working capital changes	1,351,859,189	2,780,100,708	343,866,118	644,516,221
Operating Assets:
(Increase)/decrease in amounts due form related companies	(322,119,291)	5,445,824	(78,300,000)	(89,419,106)
(Increase)/decrease in other assets	(847,054,069)	(328,297,884)	(640,780,843)	(142,710,467)
(Increase)/decrease in Financial assets recognized through profit or loss	377,514,861	382,990,343	-	-
(Increase)/decrease in Financial assets measured at fair value through other	(3,085,406,367)	(2,155,879,571)	59,994,820	-
comprehensive income

(Increase)/decrease in financial assets at amortized cost	11,574,429,397	1,622,168,721	(1,195,874,994)	(1,507,058,214)
(Increase)/decrease in Loans and Advances	1,376,580,101	3,464,289,676
(Increase)/decrease in lease and hirepurchase receivables	1,488,910,975	1,666,716,463	-	-
Increase/(decrease) in trade and other payables	(1,055,651,243)	(1,146,357,330)	(6,936,821)	(6,936,821)
Increase /(decrease) in amount due to related companies	(78,559,802)	(47,977,982)	(298,665,193)	-
Increase /(decrease) in other non financial liabilities	745,732,118	20,809,843		(58,215,949)
Increase/(decrease) in insurance contract liabilities	2,554,038,223	1,446,436,929	-	-
Increase/(decrease) in public deposits	(2,868,993,792)	(3,936,680,837)	-	-
Cash (used in) / generated from operations	11,211,280,300	3,773,764,903	(1,816,696,913)	(1,159,824,336)
Tax Paid	(162,834,898)	(700,654,767)	-	-
Interest Paid	(1,338,941,330)	(2,441,092,396)	(1,446,493,535)	(1,074,455,384)
Gratuity paid	(21,687,009)	(23,827,029)	-	-
Net cash (used in) / generated from operations	9,687,817,063	608,190,711	(3,263,190,448)	(2,234,279,720)
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in subsidiaries	-	-		(38,000,000)
Dividend received / (Paid)	(5,999,981,500)		2,637,662,336
Proceeds on disposal of property plant & equipment	3,075,638	5,188,856	-	-
Proceeds/Disposal on ROU asset	-	-	-	-
Purchase of property, plant & equipment and intangible assets	(63,680,340)	(124,405,787)		(6,872,780)
Net cash (used in) / generated from investing activities	(6,060,586,202)	(119,216,931)	2,637,662,336	(44,872,780)

CASH FLOWS FROM FINANCING ACTIVITIES

Proceeds from long term borrowings Repayment of long term borrowings Payment of principal portion of lease liability Proceed/(repayment) from short term borrowings Subsidiary share buy back to non-controlling interest

Net cash (used in) / generated from financing activities

Net Increase/(Decrease) in Cash and Cash Equivalents Cash & Cash Equivalents at the beginning of the period

Cash & Cash Equivalents at the end of the Period ( Note A)

NOTES TO THE CASH FLOW STATEMENT A. Cash & Cash Equivalents

Cash & Bank Balances

Bank Overdrafts

642,493,092	640,875,000	-	310,500,000
(759,843,220)	(1,561,223,042)	(488,062,016)	(638,207,937)
(265,570,902)	(242,810,440)	(78,645,894)	(64,362,003)
	479,183,102	1,174,869,110	2,716,204,812
(651,199,496)	-	-	-
(1,034,120,528)	(683,975,379)	608,161,201	2,324,134,871

2,593,110,334	(195,001,600)	(17,366,912)	44,982,372
1,167,490,938	740,186,569	(266,798,983)	(321,979,934)
3,760,601,272	545,184,969	(284,165,895)	(276,997,562)
2024	2023	2024	2023
Rs.	Rs.	Rs.	Rs.
4,452,914,636	1,512,537,350	47,716,215	14,096,136
(692,313,364)	(967,352,381)	(331,882,111)	(291,093,698)
3,760,601,272	545,184,969	(284,165,895)	(276,997,562)

The above figures are subject to Audit unless stated otherwise.

13th December 2024

SOFTLOGIC CAPITAL PLC

Segment Information - Business Segment

For the Six Months ended 30th September 2024

	Non-banking
	Financial				Adjustments and
	Institutions	Insurance	Others	Total Segments	Eliminations	Group Total
Total external revenue	940,007,088	19,033,095,408	492,627,591	20,465,730,087	-	20,465,730,087
Inter-Segment	-	-	2,852,504,540	2,852,504,540	(2,852,504,540)	-
Total revenue	940,007,088	19,033,095,408	3,345,132,132	23,318,234,627	(2,852,504,540)	20,465,730,087
Interest Income	675,289,551	3,185,693,787	318,971,515	4,179,954,853	(16,448,294)	4,163,506,558
Interest expense	(490,540,354)	(350,887,716)	(1,077,434,453)	(1,918,862,522)	22,921,192	(1,895,941,330)
Impairment of loans and receivables	56,894,373	(218,219,930)	(179,293,326)	(340,618,883)	-	(340,618,883)
Change in insurance contract liabilities	-	(2,554,038,222)	-	(2,554,038,222)	-	(2,554,038,222)
Depreciation	(15,081,426)	(67,224,384)	2,346,690	(79,959,120)	-	(79,959,120)
Amortization	(9,485,238)	(352,904)	(3,044,021)	(12,882,163)	(60,979,577)	(73,861,740)
Employee benefits expenses	(8,997,000)	(23,686,387)	(1,897,630)	(34,581,018)	-	(34,581,018)
Tax expense	-	(840,733,601)	(2,732,786)	(843,466,387)	(465,469,824)	(1,308,936,211)
Profit after tax for the period	37,936,901	1,996,053,893	1,682,007,603	3,715,998,397	(3,152,227,299)	563,771,097
Total Assets	8,251,889,006	50,127,122,552	22,119,554,389	80,498,565,948	(15,559,740,004)	64,938,825,945
Total Liabilities	5,425,053,090	40,893,682,000	16,292,366,290	62,611,101,380	(1,850,648,856)	60,760,452,524
For the Six Months ended 30th Sptember 2023
	Non-banking
	Financial				Adjustments and
	Institutions	Insurance	Others	Total Segments	Eliminations	Group Total
Total external revenue	1,634,426,400	15,420,475,879	540,719,232	17,595,621,511	-	17,595,621,511
Inter-Segment	-	-	455,966,955	455,966,955	(455,966,955)	-
Total revenue	1,634,426,400	15,420,475,879	996,686,187	18,051,588,466	(455,966,955)	17,595,621,511
Interest Income	1,550,657,200	3,476,361,859	609,728,663	5,636,747,722	(249,895,724)	5,386,851,998
Interest expense	(1,825,784,759)	(352,446,845)	(1,345,270,489)	(3,523,502,093)	272,780,799	(3,250,721,294)
Impairment of loans and receivables	(84,203,248)	(78,872,519)	-	(163,075,767)	-	(163,075,767)
Change in insurance contract liabilities	-	(1,443,753,109)	-	(1,443,753,109)	-	(1,443,753,109)
Depreciation	(15,081,426)	(67,224,384)	(2,954,592)	(85,260,402)	-	(85,260,402)
Amortization	(9,485,238)	(352,904)	(2,359,943)	(12,198,085)	(60,979,577)	(73,177,662)
Employee benefits expenses	(8,997,000)	(23,686,387)	(1,669,435)	(34,352,822)	-	(34,352,822)
Tax expense	-	(452,751,044)	(3,585,159)	(456,336,203)	-	(456,336,203)
Profit after tax for the period	(918,419,360)	1,205,888,415	(713,996,078)	(426,527,023)	(44,844,583)	(471,371,606)
Total Assets	15,382,054,638	49,517,164,842	16,652,112,881	81,551,332,361	(11,137,784,154)	70,413,548,207
Total Liabilities	14,064,426,918	36,977,196,162	13,878,885,755	64,920,508,835	(2,691,046,640)	62,229,462,195

The above figures are subject to Audit unless stated otherwise. 13th December 2024

107

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