Softlogic Capital : Quarterly Financial Statement for the period ended 30th September 2022

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