Page 150 - InterloopAnnualReport2020
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UNCONSOLIDATED STATEMENT
OF CASH FLOW
For the year ended June 30, 2020
2020 2019
(Rupees ‘000) (Rupees ‘000)
a) CASH FLOWS FROM OPERATING ACTIVITIES
Profit before taxation 2,115,831 5,420,983
Adjustments for:
Depreciation 1,980,510 1,641,234
Amortization 14,931 9,047
Depreciation on right of use assets 16,835 –
Workers’ profit participation fund 112,527 285,315
Workers’ welfare fund 43,180 –
Staff retirement gratuity 783,277 522,833
Employee share option compensation expense – 5,031
Loss on disposal of property, plant and equipment 17,534 47,091
Inventory write–off 7,125 –
Realized loss on derivative financial instruments 106,843 –
Remeasurement loss on investment in mutual funds 5,293 20,787
Profit on term deposit receipts (TDRs) (36,131) (182)
Profit on term finance certificates (TFCs) (55,606) –
Interest on loan to Metis International (Pvt) Ltd (1,356) (7,211)
Provision for impairment loss – 70,814
Interest on receivables from IL Bangla Limited (5,796) (5,796)
Finance cost 1,137,162 995,707
Operating cash flows before working capital changes 6,242,159 9,005,653
Changes in working capital
(Increase)/decrease in current assets
Stores and spares (174,865) (108,461)
Stock in trade (2,535,259) (1,160,773)
Trade debts 1,040,349 (954,732)
Loans and advances 571,644 (436,565)
Deposit, prepayment and other receivables 17,322 (12,114)
Tax refunds due from government (218,701) 403,246
Short term investment in mutual funds – net 125,603 (4,258)
(Decrease)/Increase in current liabilities
Trade and other payables (433,974) 744,150
(1,607,881) (1,529,507)
Cash generated from operations 4,638,148 7,476,146
Finance cost paid (1,049,053) (1,001,655)
Income tax paid (448,202) (238,195)
Staff retirement gratuity paid (122,931) (131,021)
Workers’ profit participation fund paid (288,315) (232,069)
Long term loans paid (42,293) (14,049)
Long term deposits paid (10,318) (3,202)
Settlement of derivative financial instruments (106,843) –
Profit on term deposit receipts (TDRs) received 36,131 182
Net cash generated from operating activities 2,602,454 5,856,137
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