COLOMBO INVESTMENT TRUST PLC

Company No. PQ 85

INTERIM FINANCIAL STATEMENTS

For the six months ended

30th September 2022

COLOMBO INVESTMENT TRUST PLC

Company No PQ 85

STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

Audited

Unaudited

Unaudited

Year

Quarter

Quarter

Six months

Six months

ended

ended

ended

Variance

ended

ended

Variance

31.03.2022

30.09.2022

30.09.2021

%

30.09.2022

30.09.2021

%

Rs.'000

Rs.'000

46,986

Revenue

31,011

3,953

+

684

35,500

8,825

+

302

(9,787)

Cost of Investments disposed

(6,125)

-

-

(6,125)

-

-

Net change in Fair Value through

8,833

Profit or Loss Financial Assets

137,326

346

+39,590

51,703

39,766

+

30

22

Other Income

-

-

27

-

-

(4,110)

Administrative Expenses

(1,595)

(1,142)

-

40

(2,376)

(2,073)

-

15

Impairment (Expense)/Reversal for

40

Related Party Receivable

-

-

-

-

-

-

41,984

Operating Profit/(Loss)

160,617

3,157

+ 4,988

78,729

46,518

+

69

(1,893)

Finance Expenses

(697)

(571)

-

22

(1,447)

(1,109)

-

30

40,091

Profit/(Loss) before Tax

159,920

2,586

+ 6,084

77,282

45,409

+

70

(648)

Income Tax Expenses

(788)

-

-

(1,155)

-

-

39,443

Profit/(Loss) for the period

159,132

2,586

+ 6,054

76,127

45,409

+

68

Other Comprehensive Income/(Expense)

Items that will not be reclassified to Profit or Loss

Financial Assets at Fair Value through

Other Comprehensive Income

(174,355) - Net change in Fair value

767,757

(67,256)

+ 1,242

689,557

(50,493)

+ 1,466

Financial Assets at Fair Value through

Other Comprehensive Income

-

- Reclassified to Equity

(2,411)

-

-

(2,411)

-

-

Financial Assets at Fair Value through

Other Comprehensive Income

-

- Profit on Diposal

(241)

-

-

(241)

-

-

(174,355) Total other Comprehensive Income/(Expen

765,105

(67,256)

+ 1,238

686,905

(50,493)

+ 1,460

(134,912) Total Comprehensive Income/(Expense)

924,237

(64,670)

+ 1,529

763,032

(5,084)

+ 15,108

5.63

Earnings/(Loss) per Share (Rs.)

22.69

0.37

10.86

6.48

1.20

Dividend Proposed per Share (Rs.)

-

-

-

-

2

COLOMBO INVESTMENT TRUST PLC

Company No PQ 85

STATEMENT OF FINANCIAL POSITION

Audited

Unaudited

Unaudited

As at

As at

As at

31.03.2022

30.09.2022

30.09.2021

Rs.'000

Rs.'000

Rs.'000

ASSETS

Non - Current Assets

Financial Assets at Fair Value through Other

776,030

Comprehensive Income

1,467,128

899,003

776,030

Total Non - Current Assets

1,467,128

899,003

Current Assets

302,276

Financial Assets at Fair value through Profit or Loss

359,910

317,348

6,336

Trade & Other Receivables

122

91

4,173

Amounts due from Related Companies

-

4,436

1,963

Cash & Cash Equivalents

11,398

2,599

314,748

Total Current Assets

371,430

324,474

1,090,778

Total Assets

1,838,558

1,223,477

EQUITY AND LIABILITIES

-

Equity

195,643

Stated Capital

203,933

195,643

315,988

Retained Earnings

385,995

321,954

560,023

FVOCI Reserve

1,247,169

683,884

1,071,654

Total Equity

1,837,097

1,201,481

Liabilities

Current Liabilities

18,286

Trade and Other Payables

487

21,784

154

Dividend Payable

154

176

684

Income Tax Payable

820

36

19,124

Total

Current Liabilities

1,461

21,996

19,124

Total

Liabilities

1,461

21,996

1,090,778

Total Equity and Liabilities

1,838,558

1,223,477

152.83

Net Assets per Share (Rs.)

261.99

171.35

For and on behalf of the Board

(Sgd.) S.D.R.Arudpragasam

(Sgd.) S.Shanmugalingam

Director

Director

03rd November,2022

3

COLOMBO INVESTMENT TRUST PLC

Company No. PQ 85

STATEMENT OF CHANGES IN EQUITY

Stated

Retained

FVOCI

Total

Capital

Earnings

Reserve

Equity

Rs.'000

Rs.'000

Rs.'000

Rs.'000

Balance as at 01.04.2021

187,431

284,757

734,378

1,206,566

Dividend paid - Scrip Dividend

8,212

(8,212)

-

Profit for the period

-

45,408

-

45,408

Other Comprehensive Income

-

-

(50,493)

(50,493)

-

Balance as at 30.06.2021

195,643

321,953

683,885

1,201,481

Balance as at 01.04.2022

195,643

315,989

560,022

1,071,654

Dividend paid - Scrip Dividend

8,290

(8,290)

-

-

Loss for the period

-

76,126

-

76,126

Other Comprehensive Income

-

2,170

687,147

689,317

Balance as at 30.09.2022

203,933

385,995

1,247,169

1,837,097

4

COLOMBO INVESTMENT TRUST PLC

Company No. PQ 85

STATEMENT OF CASH FLOWS

Audited

Unaudited

Unaudited

Year

Nine months

Nine months

ended

ended

ended

31.03.2022

30.09.2022

30.09.2021

Rs.'000

Rs.'000

Rs.'000

CASH FLOW FROM OPERATING ACTIVITIES

25,938

Dividend Received

17,674

5,873

(24,519)

Payments to Service Providers

(2,523)

(3,699)

(8,678)

Acquisition of Investments

(20,407)

(599)

-

Settlement from Broker

-

(24)

9,076

Proceeds from Disposal of Investments

12,410

-

-

Settlement of Other Debtors

9

-

302

Receipt/(Payment) of Current Account Balances

4,200

-

-

Income Tax paid

(1,019)

-

(1,944)

Interest paid

(909)

(740)

175

Net Cash generated from/(used in) Operating Activities

9,435

811

CASH FLOW FROM INVESTING ACTIVITIES

-

Interest Received

-

-

-

Settlement of Loan

-

-

-

Net Cash Flows from Investing Activities

-

-

175

Net increase in Cash and Cash Equivalents

9,435

811

1,788

Cash and Cash Equivalents at the beginning of the period

1,963

1,788

1,963

Cash and Cash Equivalents at the end of the period

11,398

2,599

Note: A

Reconcilation of Profit for the Year to the net Cash Flows used in Operating Activities

Cash Flow from Operating Activities

40,091

Profit before tax

77,282

45,409

Adjustments for :

(8,833)

Net change in Fair Value through Profit or Loss Financial Assets

(51,703)

(39,765)

(1,905)

Gain on Disposal of Finanacial Assets

(9,540)

-

(5,003)

Dividend received as Scrip dividend

(5,865)

(4,908)

1,893

Interest Expense

1,447

1,108

(40)

Provision/(Reversal) for Related Party Receivable

-

-

(22)

Write back of Unclaimed Dividends

-

-

26,181

Operating Profit before Working Capital Changes

11,621

1,844

Changes in Working Capital

(2,552)

(Increase)/Decrease in Receivables

6,213

3,693

302

(Increase)/Decrease in Amounts Due from Related Parties

4,173

-

(13,134)

Increase/(Decrease) in Trade & Other Paybles

(5,902)

(3,363)

10,797

Cash generated from /(used in) Operating Activities

16,105

2,174

-

Income Tax paid

(1,019)

-

(1,944)

Interest Paid

(909)

(740)

(8,678)

Acquisition of Investments

(20,407)

(623)

-

Proceeds from Disposal of Investments

15,665

-

175

Net Cash generated from / (used in) Operating Activities

9,435

811

5

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Colombo Investment Trust plc published this content on 04 November 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 November 2022 10:51:03 UTC.