Page 76 - CA Sri Lanka Integrated Annual Report 2023

FINANCIAL REVIEW

FINANCE INCOME
Finance income (Rs. Mn) Income over expenditure before & after tax
In the face of decreasing interest rates (Rs. Mn)
on deposits due to Central Bank’s efforts 400
to reduce borrowing and lending rates, 350 400
CA Sri Lanka took a strategic decision to 350
divert its majority investment in a more 300 300
secure and high return investment of 250
Treasury Bonds. This proactive initiative 200 250
by CA Sri Lanka helped increase finance 150 200
income from Rs. 244 Mn in 2022 to Rs. 100 150
386 Mn in 2023. This was a substantial 100
increase of 59% when compared to 2022. 50 244 387
0 50 251 335 218 280
INCOME OVER EXPENDITURE AFTER 2022 2023 0 Income over Income over
TAX expenditure for the expenditure for the
year before tax year after tax
CA Sri Lanka recorded an income over
expenditure after tax of Rs. 279.8Mn for 2022 2023
the year under review which was a 28%
increase from 2022. Composition of Total Assets (Rs. Mn)
CAPITAL AND LIQUIDITY 2,000
Total assets increased by 9% to Rs. 3,735 1,500
million during the year under review.
Non-current assets grew by 9%, while 1,000
current assets grew by 11%. Further, a
47% growth in short-term investments and 500
a 15% growth in long-term investments 1,277 918 1,300 1,589 603 1,832 853 88 913 128 419 1,018 432
in financial assets were recorded in 0 48 44
2023. Financial assets for the year 2023 2022 PPE Financial assets at Other non Financial assets at Other current
amortised cost-
represent 52% of the total assets. The 2023 Non-current assest current assets amortised cost- assets
Current Assets
inventory value was managed at Rs. 34
million in 2023 compared to Rs. 48 million
in 2022, indicating a better working capital Prudent growth (Rs. Mn)
management status.
4,000 3,735
3,500 2,874 3,180 3,421
3,000 2,730
2,500
2,000
1,500
1,000
500
0 0
-500
-1,000
-1,500
-2,000
-2,500
-3,000
-3,500 (2,730) (2,874)
-4,000 (3,180) (3,421) (3,735)
2019 2020 2021 2022 2023
Non-current assets Funds and grants
Current assets Non-current liabilities
Accumulated fund and reserves Current liabilities

74 CA Sri Lanka Integrated Annual Report 2023