Saudi Pak Leasing : Financial Results for the Quarter Ended 31-03-2022

Saudi Pak Leasing Company Limited

Condensed Interim Statement of Financial Position (Un-audited) As at 31 March 2022

March 31,	June 30,
2022	2021
Rupees	Rupees

Note
Cash and bank balances	5	2,431,522	1,571,466
Short term loans	6	128,281,135	128,281,135
Short term investments	7	54,271,335	54,265,866
Trade deposits and short term prepayments	979,657	1,060,466
Other receivables	8	229,131	229,131
Taxation-net	1,153,481	621,029
Current maturity of non-current assets	9	502,851,141	541,539,478
Total current assets	690,197,403	727,568,571
Non-current assets
Long-term loans	10	-	-
Net investment in finance leases	11	-	-
Investment properties	12	39,816,578	40,880,539
Intangible assets	-	-
Property, plant and equipment	13	61,990,323	64,410,010
Total non-current assets	101,806,900	105,290,549
Total Assets	792,004,303	832,859,120
LIABILITIES
Current liabilities
Borrowings from financial institutions	14	162,801,588	162,801,588
Certificates of investment	15	43,000,000	43,000,000
Accrued mark-up	16	499,909,195	471,172,547
Accrued expenses and other payables	17	4,676,988	7,778,566
Current maturity of non-current liabilities	18	686,749,861	692,835,336
Unclaimed dividend	1,661,291	1,661,291
Preference dividend payable	-	-
Total current liabilities	1,398,798,923	1,379,249,328
Non-current liabilities
Deferred tax liability - net	-	-
Long term finances	19	-	-
Total non-current liabilities	-	-
Total liabilities	1,398,798,923	1,379,249,328
NET ASSETS	(606,794,620)	(546,390,208)
FINANCED BY
Authorized Share Capital
100,000,000 (June 30, 2019: 100,000,000) ordinary shares of Rs. 10/-each	1,000,000,000	1,000,000,000
100,000,000 (June 30, 2019: 100,000,000) preference shares of Rs. 10/-each	1,000,000,000	1,000,000,000
2,000,000,000	2,000,000,000
Issued, subscribed and paid-up share capital - ordinary shares	451,605,000	451,605,000
Issued, subscribed and paid-up share capital - preference shares	528,208,500	528,208,500
Capital reserves	179,549,025	179,549,025
Accumulated loss	(1,816,719,558)	(1,757,301,748)
Surplus on revaluation of property, plant and equipment - net of tax	21	31,555,199	32,534,786
Unrealised gain on re-measurement as at fair value through
other comprehensive income	20,006,880	20,013,895
Accumulated actuarial (loss) / gain on defined benefit plan-net of tax	(999,666)	(999,666)
(606,794,620)	(546,390,208)
CONTINGENCIES AND COMMITMENTS	22

(Un-audited) (Audited)

ASSETS

Current assets

The annexed notes from 1 to 33 form an integral part of this condensed interim financial information.

___________________

Chief Executive Officer

-------------- (Rupees) --------------

Saudi Pak Leasing Company Limited

Condensed Interim Statement Profit or Loss (Un-audited) For the quarter ended March 31, 2022

Nine months period ended

March 31,

Three months period ended

March 31,

Note Revenue

Income from:

Finance leases 23 Operating leases

Other operating income 25

TOTAL INCOME

Expenses

Finance cost 26

Administrative and operating expenses 27

Depreciation 28 Amount written-off directly against loans and lease receivables

Direct cost of operating leases

19,844,813

2022

---------------------------- (Rupees) ----------------------------

2,215,838

22,060,651

Operating (Loss) / Profit before provisions

Reversals / (Provisions) for doubtful leases, loans and other receivables

Reversal / (impairment) on investment properties

Profit / (Loss) before taxation

(39,458,734)

- (20,692,547)

Taxation

- Current

(60,151,281)

Profit / (Loss) for the period

- Deferred

1,741,051

2021

3,317,470

38,031,332

211,944

41,348,802

(13,431,911)

2022

530,033

741,977

(16,547,856)

15,204,229 - 15,204,229 1,772,317

(22,642,711)

(22,642,711)

(39,190,567)

(60,397,397)

816,160

(16,186,074)

(39,190,567)

(Loss) / Earnings per share - basic (Loss) / Earnings per share - diluted

31 31

(1.34)(0.62)

0.040.02

2021

309,222

1,125,382

7,431,657

7,431,657

(8,754,418)

- - - (8,754,418)

(0.87)(0.40)

(0.19) (0.09)

The annexed notes from 1 to 33 form an integral part of this condensed interim financial information.

___________________ Chief Executive Officer