People’s Leasing & Finance PLC

Annual Report 2019/20

Quarterly analysis

Income Statement

Company
1st Quarter
April-June
2nd Quarter
July-September
3rd Quarter
October-December
4th Quarter
January-March
Total
Rs. million 2019 2018 2019 2018 2019 2018 2020 2019 2020 2019
Interest income 7,931 7,142 8,012 7,618 8,001 8,050 7,515 8,026 31,459 30,836
Less: Interest expenses 4,117 3,683 3,904 3,825 3,801 4,013 3,965 4,125 15,787 15,646
Net interest income 3,814 3,459 4,108 3,793 4,200 4,037 3,550 3,901 15,672 15,190
Fee and commission income 373 301 460 393 450 397 411 418 1,694 1,509
Net gains/losses on financial assets – FVTPL (17) (9) 15 (14) 1 (8) 12 3 11 (28)
Other operating income 4 22 1 116 102 (1) 328 281 435 418
Total operating income 4,174 3,773 4,584 4,288 4,753 4,425 4,301 4,603 17,812 17,089
Less: Impairment charges and other losses for loans and receivables 1,298 590 294 454 607 564 2,448 (21) 4,647 1,587
Impairment charges for investment in associate 349 349
Impairment charges for right-of-use assets 37 37
Impairment charges for goodwill 68 20 68 20
Net operating income 2,876 3,183 4,290 3,834 4,146 3,861 1,748 4,255 13,060 15,133
Less:
Personnel expenses 944 808 923 898 931 945 903 787 3,701 3,438
Depreciation and amortisation 59 46 59 44 61 75 538 15 717 180
Other operating expenses 698 708 784 740 748 749 (143) 646 2,088 2,843
Total operating expenses 1,701 1,562 1,766 1,682 1,740 1,769 1,298 1,448 6,506 6,461
Operating profit before tax on financial services 1,175 1,621 2,524 2,152 2,406 2,092 450 2,807 6,554 8,672
Less: Tax on financial services 442 396 690 382 674 622 196 687 2,002 2,087
Profit before income tax expense 733 1,225 1,834 1,770 1,732 1,470 254 2,120 4,552 6,585
Less: Income tax expense 253 341 633 552 574 547 149 729 1,609 2,169
Profit for the period 480 884 1,201 1,218 1,158 923 105 1,391 2,943 4,416

Statement of Financial Position

Company
1st Quarter
As at 30 June
2nd Quarter
As at 30 September
3rd Quarter
As at 31 December
4th Quarter
As at 31 March
Rs. million 2019 2018 2019 2018 2019 2018 2020 2019
Assets
Cash and cash equivalents 2,519 2,180 2,359 2,529 3,147 3,002 7,164 3,294
Balances with banks and financial institutions 3,499 3,016 3,583 3,076 3,683 3,157 3,207 3,404
Financial assets – Fair value through profit or loss 239 166 17 105 20 27 1,032 23
Loans and receivables – Amortised cost 149,263 144,107 148,476 149,221 146,991 154,522 147,748 151,708
Financial assets – Fair value through other comprehensive income 126 197 376 150 399 157 324 126
Debt instruments – Amortised cost 8,172 6,959 8,370 6,883 8,560 7,041 4,107 8,003
Investments in subsidiaries 3,214 3,214 3,214 3,214 3,214 3,214 3,214 3,214
Investment in associate 586 586 586 238
Property, plant and equipment 1,069 1,146 1,080 1,078 1,139 1,122 1,144 1,098
Goodwill and intangible assets 308 345 298 342 285 316 258 325
Right-of-use assets 1,939 84
Deferred tax assets 376
Leasehold property 83 86 83 86 82 85
Other assets 891 854 975 981 1,001 1,070 1,147 1,024
Total assets 169,383 162,856 168,831 168,251 168,521 174,299 171,660 172,541
Liabilities
Due to banks 17,207 25,222 11,897 29,549 11,799 33,998 7,938 27,274
Due to customers 95,792 70,106 99,746 71,518 101,687 74,205 106,701 88,369
Debt securities issued 20,504 32,216 21,097 30,599 17,952 28,793 18,479 21,275
Other financial liabilities 2,282 3,890 2,932 3,673 3,616 3,852 3,014 2,480
Lease liabilities 1,909
Current tax liabilities 2,242 49 667 308 838 589 1,803 2,238
Deferred tax liabilities 837 2,276 837 2,276 837 2,276 837
Other liabilities 1,436 2,066 1,469 1,992 1,566 2,446 1,570 1,465
Total liabilities 140,300 135,825 138,645 139,915 138,295 146,159 141,414 143,938
Equity
Capital 13,236 13,236 13,915 13,236 13,915 13,236 13,915 13,236
Statutory reserve fund 2,082 1,876 2,142 1,938 2,200 1,986 2,205 2,058
Retained earnings 13,818 11,493 14,169 13,190 14,127 12,932 14,228 13,362
Other reserves (53) 426 (40) (28) (16) (14) (102) (53)
Total equity 29,083 27,031 30,186 28,336 30,226 28,140 30,246 28,603
Total liabilities and equity 169,383 162,856 168,831 168,251 168,521 174,299 171,660 172,541
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