Annual Report 2012 - Dialog

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82 l Dialog Axiata PLC l Annual Report 2012 Notes to the Financial Statements 6 Explanation of transition to SLFRSs contd. 6.1.2 Reconciliation of comprehensive income Group Company Year ended 31 December 2011 Year ended 31 December 2011 Under SLAS Transitional Under SLFRS Under SLAS Transitional Under SLFRS 31 December adjustments 31 December 31 December adjustments 31 December Note 2011 2011 2011 2011 Revenue 45,412,002 Nil 45,412,002 41,729,199 Nil 41,729,199 Direct costs (24,949,185) Nil (24,949,185) (22,494,294) Nil (22,494,294) Gross margin 20,462,817 Nil 20,462,817 19,234,905 Nil 19,234,905 Distribution costs (6,265,252) Nil (6,265,252) (5,858,998) Nil (5,858,998) Administrative costs (8,054,621) (18,927) (8,073,548) (6,260,281) (17,748) (6,278,029) Other income a 75,068 8,008 83,076 69,961 Nil 69,961 Operating profit 6,218,012 (10,919) 6,207,093 7,185,587 (17,748) 7,167,839 Finance costs - net b (447,129) (321,426) (768,555) (457,117) (321,426) (778,543) Share of profit from associate - net of tax 9,681 Nil 9,681 Nil Nil Nil Profit before tax 5,780,564 (332,345) 5,448,219 6,728,470 (339,174) 6,389,296 Income tax (578,657) Nil (578,657) (566,238) Nil (566,238) Profit for the year 5,201,907 (332,345) 4,869,562 6,162,232 (339,174) 5,823,058 Other comprehensive income Actuarial gains - from retirement benefit obligation - net of tax e Nil 18,927 18,927 Nil 17,748 17,748 Total comprehensive income for the year 5,201,907 (313,418) 4,888,489 6,162,232 (321,426) 5,840,806 6.1.3 Reconciliation of cash flow statement There is no material differences between the Company and Group statements of cash flows presented under SLFRSs and the statements of cash flows presented under SLASs. 6.1.4 Notes to the reconciliation of SLAS to SLFRS (a ) Investment in associate The adjustment to the investment in associate of Rs. 8,008,000 recognizes the impact for accounting for fair value on the disposal of 74% interest in the subsidiary, Dialog Business Services (Private) Limited (DBS) as a deemed disposal. The corresponding adjustment is made as gain on disposal of subsidiary and is classified under other income. (b ) Borrowings Under the requirements of LKAS 39 borrowings are initially recognised at fair value whereas under the previous GAAP it was recognised at cost. The financial statements were adjusted to incorporate relevant changes. Trasactions costs amounting to Rs. 47,800,000 incurred on issuance of preference shares previously included under stated capital were credited to stated capital and debited to borrowings. The impact of initial fair valuation amounting to Rs. 1,218,960,920 was credited to the statement of comprehensive income under finance cost and debited to borrowings on 1 January 2011. The adjustment for subsequent accounting for amortised cost amounting to Rs. 791,355,458 was debited to statement of comprehensive income under finance cost and credited to borrowings on 31 December 2011. The impact on finance cost and borrowings is as follows.
Net finance cost Annual Report 2012 l Dialog Axiata PLC l 83 Group Company 2012 2011 2012 2011 Finance income 305,847 423,855 269,140 408,860 Finance cost (2,786,753) (719,269) (2,735,783) (714,262) Reclassification - Dividend on preference shares (54,483) (151,715) (54,483) (151,715) Impact from subsequent recognition at amortised cost (191,723) (321,426) (191,825) (321,426) (2,727,112) (768,555) (2,712,951) (778,543) Borrowings Group Company 2012 2011 1 Jan 2011 2012 2011 1 Jan 2011 Carrying value -Non current and current 25,175,394 22,250,236 23,785,541 24,882,106 22,174,959 23,585,026 Reclassification -preference shares Nil 1,250,000 2,500,000 Nil 1,250,000 2,500,000 Impact from initial fair value recognition and subsequent measurement at amortised cost (248,498) (427,606) (750,104) (248,498) (427,606) (750,104) 24,926,896 23,072,630 25,535,437 24,633,608 22,997,353 25,334,922 The fair values of non-current and current borrowings are based on cash flows discounted using interest rates which ranges from 2.06 % to 11.56 % for floating and 4.05% to 15% for fixed rates of interest (2011: 2.22 % to12.58 % for floating and 4.05 % to 15 % for fixed).
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Introduction to the Company Dialog
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Annual Report 2012 l Dialog Axiata
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Mr. Moksevi Prelis Independent, Non
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Mr. James Maclaurin Non-Independent
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Group NPAT Rs. Mn +23% 7,000 6,000
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Gross Debt to Equity 2.0 1.5 1.0 0.
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Dialog Axiata PLC - Financial Revie
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EBITDA Annual Report 2012 l Dialog
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Annual Report 2012 - Dialog

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