Page 106 - Interloop Annual Report 2018-2019

UNCONSOLIDATED STATEMENT UNCONSOLIDATED STATEMENT

OF CASH FLOW OF CASH FLOW

FOR THE YEAR ENDED JUNE 30, 2019 FOR THE YEAR ENDED JUNE 30, 2019

2019 2018 2019 2018
Rupees in ‘000 Note Rupees in ‘000

a) CASH FLOWS FROM OPERATING ACTIVITIES c) CASH FLOWS FROM FINANCING ACTIVITIES
Profit before taxation 5,420,983 4,005,763 Long term financing obtained 4,228,002 1,300,000
Repayment of long term financing (2,568,542) (1,010,816)
Adjustments for: Payment of liabilities against assets subject to finance lease (847) (435)
Short term borrowings - net (3,454,937) 7,544,364
Depreciation 1,641,234 1,471,535 Share capital issued 1,102,558 1,719
Amortization 9,047 10,371 Share premium net of transaction cost 3,782,976 9,576
Workers' profit participation fund 285,315 210,830 Dividend paid (1,434,588) (475,276)
Staff retirement gratuity 522,833 414,543 Net cash generated from financing activities 1,654,622 7,369,132
Employee share option compensation expense 5,031 4,188
Loss on disposal of property, plant and equipment 47,091 38,694
Remeasurement loss on investment in mutual funds 20,787 10,908 Net increase in cash and cash equivalents (a+b+c) 2,286,132 111,085
Profit on TDRs (182) (225) Cash and cash equivalents at the beginning of the year 193,687 82,602
Interest on loan to Metis International (Pvt) Ltd (7,211) (8,923) Cash and cash equivalents at the end of the year 40 2,479,819 193,687
Interest income on long term loan to SNGPL - (16)
Provision for impairment loss 70,814 -
Interest on receivables from IL Bangla Limited (5,796) - The annexed notes 1 to 52 form an integral part of these financial statements.
Finance cost 995,707 483,654
Operating cash flows before working capital changes 9,005,653 6,641,322

Changes in working capital
(Increase)/decrease in current assets
Stores and spares (108,461) (82,455)
Stock in trade (1,160,773) (1,555,837)
Trade debts (954,732) (2,478,788)
Loans and advances (436,565) 309,805
Deposit, prepayment and other receivables (12,114) 303,043
Tax refunds due from government 403,246 (310,852)
Short term investment in mutual funds - net (4,258) (5,447,853)
(Decrease)/Increase in current liabilities
Trade and other payables 744,150 855,174
(1,529,507) (8,407,763)
Cash generated from/(used in) operations 7,476,146 (1,766,441)

Finance cost paid (1,001,655) (422,766)
Income tax paid (238,195) (289,281)
Staff retirement gratuity paid (131,021) (152,194)
Workers' profit participation fund paid (232,069) (156,373)
Long term loans paid (14,049) (14,791)
Long term deposits (paid)/received (3,202) 4,317
Profit on TDRs received 182 225
Interest on loan to Metis International (Pvt) Ltd received - 6,522
Interest income on loan to SNGPL received - 16
Net cash generated from/(used in) operating activities 5,856,137 (2,790,766)

b) CASH FLOWS FROM INVESTING ACTIVITIES
Additions in:
Property, plant and equipment (4,632,295) (3,418,451)
Intangible asset (32,798) (5,576)
Advance for purchase of land - (23,897)
Proceeds from disposal of property, plant and equipment 139,466 65,507
Long term investments (699,000) (1,084,864)
Net cash used in investing activities (5,224,627) (4,467,281)

2018 - 19
Interloop Limited Annual Report

CHIEF EXECUTIVE OFFICER DIRECTOR CHIEF FINANCIAL OFFICER
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