SOFTLOGIC CAPITAL PLC
(PB 779 PQ)
Interim Financial Statements
Period ended 30th September 2022
SOFTLOGIC CAPITAL PLC
INCOME STATEMENT
Group | ||||||
Three months ended 30th September | Six months ended 30th September | |||||
2022 | 2021 | Change % | 2022 | 2021 | Change % | |
Rs. | Rs. | Rs. | Rs. | |||
Revenue | ||||||
Interest income | 2,425,934,592 | 1,229,301,752 | 97% | 4,439,369,511 | 2,384,100,517 | 86% |
Net Earned Premium | 4,534,473,321 | 4,664,068,518 | -3% | 9,475,892,487 | 8,645,636,316 | 10% |
Fee and trading income | 161,298,719 | 189,462,180 | -15% | 200,160,416 | 280,623,780 | -29% |
Other income and gains | (5,004,049) | 36,004,047 | -114% | 1,381,630,173 | 104,078,414 | 1227% |
Realised gains | 19,086,501 | 91,197,862 | -79% | 78,942,436 | 186,210,966 | -58% |
Fair value gains and losses | 93,197,237 | 10,101,724 | 823% | 52,298,616 | 1,961,715 | 2566% |
Dividend income | - | 2,130,391 | -100% | 118,357,711 | 7,952,834 | 1388% |
Total revenue | 7,228,986,321 | 6,222,266,474 | 16% | 15,746,651,350 | 11,610,564,542 | 36% |
Direct expenses | ||||||
Interest expenses | (1,294,888,556) | (562,267,381) | 130% | (2,505,519,277) | (1,117,600,302) | 124% |
Net claims and net acquisition cost | (3,360,045,719) | (2,787,552,512) | 21% | (6,509,100,431) | (4,864,804,098) | 34% |
Other direct expenses | (41,260,415) | (48,813,168) | -15% | (54,600,787) | (79,085,191) | -31% |
Credit loss expense on financial assets and other | ||||||
loans | (92,356,950) | (3,294,908) | 2703% | (300,857,714) | (120,089,823) | 151% |
Operating profit / (loss) | 2,440,434,681 | 2,820,338,505 | -13% | 6,376,573,141 | 5,428,985,128 | 17% |
Administrative expenses | (1,769,950,409) | (1,064,087,002) | 66% | (3,301,272,868) | (2,046,729,160) | 61% |
Distribution cost | (186,545,239) | (163,717,460) | 14% | (416,623,892) | (346,674,449) | 20% |
Change in insurance contract liabilities | 126,226,071 | (943,096,240) | -113% | (1,767,044,977) | (1,920,473,360) | -8% |
Other operating expenses | (171,988,359) | (82,824,654) | 108% | (258,241,143) | (149,032,593) | 73% |
Profit / (loss) before income tax | 438,176,745 | 566,613,149 | -23% | 633,390,261 | 966,075,566 | -34% |
Income tax expense | (335,666,595) | (140,534,279) | 139% | (581,108,928) | (276,626,422) | 110% |
Profit / (loss) for the Period | 102,510,150 | 426,078,870 | -76% | 52,281,333 | 689,449,144 | -92% |
Profit / (loss) for the period attributable to; | ||||||
Owners of the parent | (225,994,641) | 201,145,904 | (571,095,598) | 253,004,122 | ||
Non-controlling interests | 328,504,791 | 224,932,966 | 623,376,931 | 436,445,022 | ||
102,510,150 | 426,078,870 | 52,281,333 | 689,449,144 | |||
Basic Earnings per share (Rs.) | (0.23) | 0.21 | (0.58) | 0.26 |
The above figures are subject to audit unless stated otherwise. 14th November 2022
1
SOFTLOGIC CAPITAL PLC
STATEMENT OF COMPREHENSIVE INCOME
Three months ended 30th September | Six months ended 30th september | ||||
2022 | 2021 | 2022 | 2021 | ||
Rs. | Rs. | Rs. | Rs. | ||
Profit / (loss) for the Period | 102,510,150 | 426,078,870 | 52,281,333 | 689,449,144 | |
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 | (2,111,344) | (193,569,662) | (254,126,700) | (199,186,274) | |
Net Other comprehensive income that may be | |||||
reclassified to income statement in subsequent periods | (2,111,344) | (193,569,662) | (254,126,700) | (199,186,274) | |
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 | 192,553,457 | (41,069,826) | (404,843,156) | 23,061,129 | |
Net other comprehensive income that will not be | |||||
reclassified to income statement in subsequent periods | 192,553,457 | (41,069,826) | (404,843,156) | 23,061,129 | |
Other Comprehensive Income for the period, net of | 190,442,113 | (234,639,488) | (658,969,856) | (176,125,145) | |
tax | |||||
Total comprehensive income for the period | 292,952,263 | 191,439,382 | (606,688,523) | 513,323,999 | |
Attributable to: | |||||
Owners of the parent | (88,375,572) | 184,032,107 | (603,834,376) | 252,665,460 | |
Non controlling interest | 381,327,835 | 7,407,275 | (2,854,147) | 260,658,539 | |
Total Comprehensive income for the period | 292,952,263 | 191,439,382 | (606,688,523) | 513,323,999 |
The above figures are subject to audit unless stated otherwise. 14th November 2022
SOFTLOGIC CAPITAL PLC
2022 | 2021 | Change % | 2022 | 2021 | Change % | |
Rs. | Rs. | Rs. | Rs. | |||
Revenue | ||||||
Interest income | 188,829,692 | 9,554,719 | 1876% | 280,615,565 | 22,202,950 | 1164% |
Fee and trading income | 33,193,771 | 17,984,049 | 85% | 65,657,542 | 35,968,098 | 83% |
Other income and gains | 3,573,346 | 378,082 | 845% | 3,947,319 | 768,555 | 414% |
Dividend income | - | - | 0% | 1,955,081 | - | - |
Total revenue | 225,596,809 | 27,916,850 | 708% | 352,175,507 | 58,939,603 | 498% |
Direct expenses | ||||||
Interest expenses | (492,803,755) | (118,521,377) | 316% | (816,706,524) | (215,620,353) | 279% |
Other direct expenses | (5,163,924) | (5,463,190) | -5% | (17,483,576) | (7,613,779) | 130% |
Operating profit / (loss) | (272,370,870) | (96,067,717) | 184% | (482,014,593) | (164,294,529) | 193% |
Administrative expenses | (33,214,467) | (22,162,822) | 50% | (54,986,278) | (46,730,363) | 18% |
Distribution cost | (3,130,363) | (5,164,527) | -39% | (6,961,726) | (10,432,671) | -33% |
Other operating expenses | (1,036,266) | (15,543,544) | -93% | (1,658,587) | (21,345,127) | -92% |
Profit / (loss) before income tax | (309,751,966) | (138,938,610) | 123% | (545,621,183) | (242,802,690) | 125% |
Income tax expense | - | 975,811 | 100% | - | 1,703,031 | -100% |
Profit / (loss) for the Period | (309,751,966) | (137,962,799) | 125% | (545,621,183) | (241,099,659) | 126% |
Basic Earnings per share (Rs.) | (0.32) | (0.25) | (0.56) | (0.25) |
The above figures are subject to audit unless stated otherwise. 14th November 2022
2
SOFTLOGIC CAPITAL PLC
STATEMENT OF COMPREHENSIVE INCOME
Three months ended 30th September | Six months ended 30th September | |||
2022 | 2021 | 2022 | 2021 | |
Rs. | Rs. | Rs. | Rs. | |
Profit / (loss) for the Period | (309,751,966) | (137,962,799) | (545,621,183) | (241,099,659) |
Net Other comprehensive income that may be | ||||
reclassified to income statement in subsequent periods | - | - | - | - |
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 | (5,113,647) | 14,785,163 | (25,010,820) | (5,112,010) |
Gains on revaluation of land and buildings | - | - | - | - |
(Gain)/loss arising from changes in assumptions | - | - | - | - |
Net other comprehensive income that will not be | ||||
reclassified to income statement in subsequent periods | (5,113,647) | 14,785,163 | (25,010,820) | (5,112,010) |
Tax on other comprehensive income | - | - | - | - |
Other Comprehensive Income for the period, net of | (5,113,647) | 14,785,163 | (25,010,820) | (5,112,010) |
tax | ||||
Total comprehensive income for the period | (314,865,613) | (123,177,636) | (570,632,003) | (246,211,669) |
The above figures are subject to audit unless stated otherwise.
14th November 2022
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