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    19 views15 pages

    PTCL Group Financials March 2022

    Uploaded by

    Salman Saeed

    Copyright:

    © All Rights Reserved
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    of 15
    PAKISTAN TELECOMMUNICATION COMPANY LINED ‘CONDENSED CONSOLIDATED INTERIM STATEMENT OF FINANCIAL POSITION [AS AT MARCH 31,2022 (UN-AUDITED) Note guy and abies Equity ‘Shae capa andeseves ‘Share capital “General rose ‘Unappopite pot Stator and other reserves Unreaze os on investments roasuted af vate tough OCI ation [Non-curent ables ‘Lng term ean rom banks Seborcnaod dt ‘Depot rom Baking customers eave tates ‘eee income tx Employees retement beets Detered goverment rants Advances fom customers eenoe fee payatie. ong oom vendor iby (Current abies “Trade and oer payaties ‘ Deposits em barking customers Intrest sconce Short irm ning fence Current prton of ‘ng tem oan rm banks Repo borowing ‘Sbordrate det Lease fabs Lang tem vero abity canes tee payee Security deposits Unpaid uncied dividend Tota equlty and labios ‘Gomtlngerclos and commitments " Maren31, December 31, "2022 221 Re'e00 R000 (Uretucitod) —_ (Aus) ‘5100900 51,000,000 “asren| [—araaroe sor o%4 Saaeseee —36.804.008 Ta9313 709319 20090) aenisast 104769 ‘Sree aae | [saa “40,300 ‘40.100 samaeo|| 1323708, sapoaase| | sasre.r22 ‘reas || 2400875, arsiagna| | 2700705 aiserses || 2037748 ‘istz2a6 || 1951/800 zzzasaie| | 21005,808 37706.368 | |_35.00437 Greseea7s —i77,127 568 Ta 53432784 035.404 soaraace|| 8.227200 soatgars| | t1182076 suse || 1772353 ‘a9820 ‘ee20 oar 10306908 ‘900,781 2103 Biss10e8 am, Lae ‘ssata Non-curont asats Property, pant and equipment Right use asco Intngbi asst Long tem iovestnents ong tem loans and vances Long tem oan to banking customers Contact costs Curent anceta ‘Stock in wade, stro and spa0s Loans to bang customers {pane and advancos Conedt eats Trea txrocoverbo Recelabie fom ths Governent of Pakistan Deposis, prepayments and oer ‘roshabies ‘Sher term investments (Cosh and bank blancs Tota annata ‘The annexed notes 110 21 ae an toga! pro hse condonsod cossdeod itr franc statements ‘Che Fiancal Offcor President and CEO 7 March 34, December 31, 2022 200 i) 000 (Woaudites) (uted) 200825500 204872579 weqs3a6s 7.154073, Basie 1427 same eats 8212283, mean on273 ‘woRsn710 305206388 Ear see 23:100559 | 2en63476 aiesaae| | “3.ase252 2asoaor| | 27000 araeaaea| | 27404827 ‘aasaon| | “Zedar2 ‘ayzoraee| | r9se7.000 7388.58 ae, _aoeaET ‘haan PAKISTAN TELECOMMUNICATION COMPANY LIMITED ©ptel CONDENSED CONSOLIDATED INTERIM STATEMENT OF PROFIT OR LOSS FOR THE THREE MONTHS PERIOD ENDED MARCH 31, 2022 (UN-AUDITED) Note Revenue 12 Cost of services Gross profit Administrative and general expenses Selling and marketing expenses Impairment loss on trade debts and contract assets Operating profit Other income 13 Finance costs (Loss) / profit before tax Income tax (Loss) / profit for the period The annexed notes 1 to 21 are an integral part of these statements, ‘Three months ended ‘March 31, March 31, 2022 2021 Rs ‘000 Rs ‘000 35,051,051 33,959,997 (27,299,214) _ (24,633,475). 7,751,837 9,326,522 (4,609,941)] [ (4,397, 138)| (2,160,518)| | —(1,925,009)| (668,106) (630,957) (7.438,565) — (6,955,104), 313,272 2,373,418 3,565,315 3,010,570 (6,038,655) (3, 120,622) (2,160,068) 2,263,366 601,601 (656,560) (1,558,467) __1,606,806_ condensed consolidated interim financial Chief Financial Officer President and CEO ‘Chairman PAKISTAN TELECOMMUNICATION COMPANY LIMITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF COMPREHENSIVE INCOME FOR THE THREE MONTHS PERIOD ENDED MARCH 31, 2022 (UN-AUDITED) (Loss) / profit for the period Other comprehensive income for the period Items that will not be reclassified to consolidated statement of profit or loss: Remeasurement loss on employees retirement benefits Tax effect Items that may be subsequently reclassified to profit or loss: Gain / (loss) on revaluation of assets transferred to profit or loss Loss on revaluation of assets Tax effect Other comprehensive loss for the period - net of tax Total comprehensive (loss) / income for the period (1,858,487) 1,606,806 ~ 17,568, 160) : 454,768 = (7,113,394) 25,485 8) (134,485) (65,680) 31,604 9,552 (7,378) (46,186) (77,376) (1,459,580) (7,635,843) 447,226 ‘The annexed notes 1 to 21 are an integral part ofthese condensed consolidated interim financial statements yy Chief Financial Officer President and CEO Chairman PAKISTAN TELECOMMUNICATION COMPANY LIMITED CONDENSED CONSOLIDATED INTERIM STATEMENT OF CASH FLOWS FOR THE THREE MONTHS PERIOD ENDED MARCH 31, 2022 (UN-AUDITED) Cash flows from operating activities, Cash generated from operations Employees retirement benefits paid Income tax paid Net cash inflow from operating activities Cash flows from investing activities Capital expenditure Acquisition of intangible assets Proceeds from disposal of property, plant and equipment ‘Additions to contract costs Long term loans and advances Short term investments Government grants received Retum on long term loans and short term investments Net cash (outflow) / inflow from investing activities Cash flows from financing activities Loan from banks - net Vendor liability Finance cost paid Deposits from banking customers Lease liabilities, Dividend paid Net cash outflow from financing activities lents Net (decrease) / increase in cash and cash equi Cash and cash equivalents at the beginning of the period Cash and cash equivalents at the end of the period Note 14 15 ‘Three months ended March 31, March 31, 2022 2021 Rs ‘000 Rs 000 6,808,513 14,409,953 (472,871) (394,946) (1,402,148) (801,205) 4,933,794 13,213,802 (10,993,088) (4,021,407) (301,45) (600,208) 274,445 387,632 (1,437,501) (1,462,264) 113,155 80,283 4,248,316 5,296,093 1,896,085 1,292,623, 1,201,549 646,148 (4,998,465) 1,568,900 (6,157,945)| (4,180,648) 5,993,881 (4,302,561) (2,186,932)| (1,787,080) (589,842)} (236,580)} (1,605,337) (1,281,913) (61) (335) (4,546,226) (11,789,117) (4,610,897) 2,993,585 5,992,387 12,024,517 7,387,490 Ea ‘The annexed notes 1 to 21 are an integral part of these condensed consolidated interim financial statements. Chief Financial Officer President and CEO Chairman PAKISTAN TELECONMUNICATION COMPANY LIMITED ‘CONDENSED CONSOLIDATED INTERIM STATEMENT OF CHANGES IN EQUITY FOR THE THREE MONTHS PERIO ENDED WARCH 8, 2022 UN-AUOITED) Balance as atDecomber 31,2020, “otal comprehensive incre fr th prod Protforie twee mons peo ended Marc 31,2021 (iter campreenve name nce a at March 31,2021 Prost forthe rive mont pared ended December 31,2021 (Other comprotencvencame. mere ‘Traeterto stauoryand che rxeres ‘Balance 25 at December 31,2021 ‘Adjustment on Ill application of IFRS 9 by U Bank ‘Adjusted balance as at January 1, 2022 Total comprohonsve Icom oss) fo tho paid ‘Lose forthe treo months period anded March 3, 2022 (ter comprehensive income ‘Balance a8 at Mare 3, 2022 ease A Cass "S ——Ganaratesene Unappropraad Revenue reserves > ptcl ‘pot (rupees in 00) 7.740000 3.269000 © arasTOT 7.904498 11569 20 .903.200 Tes TEE Z 7 7 = : us.9|_ as. + + TRE : ‘a5.185) T0520 “Siam —“aaeoee aT aaTore aaa aes aay aT 7 : 7 aa 7 Cy : “JL nazaszn] 2 gasora|_cvar7 700] 7 z oe i6) 7 eas ers) (a0) : = arr ——arnze0 ‘iran eae aaron are Taisen) aaa (esos) saro78 968476) Tae ae aan aT saree eas 0 Tass “349 7sa3e 7 7 Taser) 7 =] reer) 2 2 grsral|_— grr 7 _ aaa : 7st) Ws3688) AL aE Tass a] ee ‘The amered noes 11021 a an intgal par cl hase candansed consaidsted trim tac sales (Chet Parc Oto Chaiman We ©ptel PAKISTAN TELECOMMUNICATION COMPANY LIMITED NOTES TO AND FORMING PART OF THE CONDENSED CONSOLIDATED INTERIM FINANCIAL INFORMATION FOR THE THREE MONTHS PERIOD ENDED MARCH 31, 2022 (UN-AUDITED) 4 4 12 Legal status and nature of business Constitution and ownership ‘The condensed consolidated interim financial information of the Pakistan Tolecommunication Company Limited and its subsidiaries (the Group") comprise ofthe financial information of Pakistan Telecommunication Company Limited (PTCL) Pakistan Telecommunication Company Limited (the Holding Company) was incorporated in Pakistan on December 31, 1995 ‘and commenced business on January 01, 1996, The Holding Company, whichis listed on the Pakistan Stock Exchange Limited (PSX) (formerly Karachi, Lahore and Istamabad Stock Exchanges), was established to undertake the telecommunication business formerty carried on by Pakistan Telecommunication Corporation (PTC). PTC's business was transfered to the Holding ‘Company on January 01, 1996 under the Pakistan Telecommunication (Re-organization) Act, 1996, on which date, the Holding Company took overall the properties, rights, assets, obligations and liabilities of PTC, except those transferred to the National ‘Telecommunication Corporation (NTC), the Frequency Allocation Board (FAB), the Pakistan Telecommunication Authority (PTA) and the Pakistan Telecommunication Employees Trust (PTET). The registered office of the Holding Company is situated at PTCL Headquarters, G-84, Islamabad Pak Telecom Mobile Limited (PTML) PTML was incorporated in Pakistan on July 18, 1998, as a public limited company to provide collular moble telephony services in Pakistan, PTML commenced its commercial operations on January 29, 2001, under the brand name of Ufone. Itis a wholly ‘owned subsidiary of PTCL. The registered ofice of PTML is situated at Ufone Towar, Jinnah Avenue, Blue Area, Islamabad, U Microfinance Bank Limited (U Bank) ‘The Holding Company acquired 100% owmership of U Bank on August 30, 2012 to offer services of digital commerce and bbranchiess banking, Ubank was incorporated on October 29, 2003 as a public limited company. The registered office of U Bank is situated at Jinnah Super Market F-7 Markaz, Islamabad. DVCOM Data (Private) Limited (DVCOM Data) ‘The Holding Company acquired 100% ownership of DVCOM Data effective from Apri 01, 2016, The company has a Wireless ‘Local Loop (WILL) License of 1900 MHz spectrum in nine telecom regions of Pakistan. The registered ofice of the company is located at PTCL Head Quarters South, Halim Alvi Road, Citon Karachi ‘Smart Sky (Private) Limited (Smart Sky) ‘Smart Sky was incorporated in Pakistan on October 12, 2016 as a private limited company. Smart Sky is a wholly owned subsiaiary of PTCL. The registered office of Smart Sky is located at PTCL Headquarters, G-8/4, Islamabad. Activities of the Group ‘The Group principally provides telecommunication and broadband internet services in Pakistan. PTCL owns and operates telecommunication facts and provides domestic and international telephone services throughout Pakisian. PTCL has also been licensed to provide such services to territories in Azad Jammu and Kashmir and Gilgi-Balstan, PTUL provides celular mobile telephony services throughout Pakistan and Azad Jammu and Kashmir. Principal business of U Bank, incorporated under Microfinance Institutions Ordinance, 2001, isto provide nationwide microfinance and branchiess banking services. } ©ptel ‘Statement of complance ‘These condensed conelidated interim facial statements have been prepared in accardance withthe accounting and reporting standards 2s apptcable in Pakistan fr intern francial reporting, The accountng and reporting standards a8 ‘applicable in Pakistan for interim financial eporing compyise of Intomavonal Accounting Standard (AS) 34, Inter Financial Reporting, lsued by the Intematonal Accounting Standards ‘Board (ASB) as notified under the Companies Act, 2017; and - Provisions of and directives issued under the Companies Ac, 2017 ‘Where the provisions of and directives issued under the Companies Act, 2017 cifer withthe requirements of IAS 34, the provisions of and arocives issued under the Comparies Act, 2017 have boon flowed. The applicable nancial reporting framework for consolidated subsidiary aso incudes te folowing: = Microfinance Insitutions Ordinance, 2001 (the MF Ordinance) Directives issued by the Securties and Exchange Commission of Pakistan (SECP) and State Bank of Pakistan (SBP; end ‘here the requirements of the Companies Ac, 2017, the MFI Ordinance and the directives issued by the SECP and SBP

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