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CONSOLIDATED FINANCIAL STATEMENTS - BHARTI AIRTEL LIMITED[AS PER INTERNATIONAL FINANCIAL REPORTING STANDARD (IFRS)]
Schedule INDEX
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Consolidated Balance Sheet
Consolidated Statements of Operations
Consolidated Statements of Cash Flows
Segmental Information 2011-12
Segmental Information 2010-11
As of As of As of
NotesMarch 31, 2012 March 31, 2011 March 31, 2010
Assets
Non-current assets Property, plant and equipment 13 Rs. 674,932 Rs. 651,426 Rs. 482,629 Intangible assets 14 660,889 637,317 59,890 Investment in associates 16 24 - 57 Derivative financial assets 17 2,756 1,998 3,337 Other financial assets 18 17,086 7,930 7,368 Other non - financial assets 19 15,568 9,255 7,485 Deferred tax asset 12 51,277 45,061 12,489
1,422,532 1,352,987 573,255
Current assets Inventories 20 1,308 2,139 484 Trade and other receivables 21 63,735 54,929 35,711 Derivative financial assets 17 2,137 2,682 144 Prepayments and other assets 22 32,621 30,504 20,835 Income tax recoverable 9,049 5,280 2,826 Short term investments 23 18,132 6,224 52,264 Other financial assets 24 802 744 98 Cash and cash equivalents 25 20,300 9,575 25,323
148,084 112,077 137,685
Total assets Rs. 1,570,616 Rs. 1,465,064 Rs. 710,940
Equity and liabilities Equity Issued capital Rs. 18,988 Rs. 18,988 Rs. 18,988
Treasury shares (282) (268) (81) Share premium 56,499 56,499 56,499 Retained earnings / (deficit) 395,682 357,446 301,342 Foreign currency translation reserve (6,026) 14,018 824 Other components of equity 31 41,252 40,985 44,368 Equity attributable to equity holders of parent 506,113 487,668 421,940 Non-controlling interest 27,695 28,563 25,285 Total equity 533,808 516,231 447,225
Non-current liabilities Borrowings 26 497,154 532,338 81,474 Deferred revenue 2,892 8,700 11,222 Provisions 27 7,240 6,085 3,779 Derivative financial liabilities 17 401 151 289 Deferred tax liability 12 11,621 12,487 3,737 Other financial liabilities 28 23,076 13,856 10,860 Other non - financial liabilities 29 5,551 5,371 3,912
547,935 578,988 115,273
Current liabilities Borrowings 26 193,078 84,370 20,424 Deferred revenue 43,282 30,599 19,027 Provisions 27 1,290 1,180 874 Other non - financial liabilities 29 10,811 10,053 5,399 Derivative financial liabilities 17 166 317 415 Income tax liabilities 7,596 3,642 - Trade & other payables 32 232,650 239,684 102,303
488,873 369,845 148,442
Total liabilities 1,036,808 948,833 263,715 Total equity and liabilities Rs. 1,570,616 Rs. 1,465,064 Rs. 710,940
Notes
Revenue Rs. 714,508 Rs. 593,383 Other operating income Rs. 550 Rs. 635
Operating expenses 7 (477,935) (395,300)
237,123 200,718
Depreciation & amortisation 9 (133,681) (102,066)
Profit / (Loss) from operating activities 103,442 98,652
Share of results of associates (74) (57)
103,368 98,595
Finance income 11 2,643 3,536 Finance costs 11 (40,828) (25,349)
Profit / (Loss) before tax 65,183 76,782
Income tax expense 12 (22,602) (17,790)
Net profit / (loss) for the year Rs. 42,581 Rs. 58,992
Other comprehensive income / (loss) Exchange differences on translation of foreign operations (20,410) 12,681
(20,410) 12,681
Rs. 22,171 Rs. 71,673
Profit/(loss) attributable to : Equity holders of the parent 42,594 60,467 Non controlling interests (13) (1,475) Net Profit / (Loss) Rs. 42,581 Rs. 58,992
Total comprehensive income / (loss) attributable to : Equity holders of the parent 22,550 73,661 Non controlling interests (379) (1,988) Total Comprehensive Income / (Loss) Rs. 22,171 Rs. 71,673
Earnings Per Share 38Basic, profit attributable to equity holders of parent Rs. 11.22 Rs. 15.93 Diluted, profit attributable to equity holders of parent Rs. 11.22 Rs. 15.93
Year ended March 31, 2012
Year ended March 31, 2011
tax
Other comprehensive income / (loss) for the year, net of tax Total comprehensive income / (loss) for the year, net of tax
Cash flows from operating activitiesProfit / (loss) before tax 65,183 76,782 Adjustments for - Depreciation and amortization 133,681 102,066 Finance income (2,643) (3,536) Finance cost 40,828 25,349 Share of results of associates (post tax) 74 57 Amortization of stock based compensation 783 1,561 Other non-cash items 1,534 480 Operating cash flow before working capital changes 239,440 202,759
Trade & other receivables and prepayments (14,094) (9,207) Inventories 1,475 (211) Trade and other payables 23,961 16,987 Provisions 397 (160) Other financial and non financial liabilities 9,505 4,282 Other financial and non financial assets (6,381) (2,114)Cash generated from operations 254,303 212,336 Interest received 401 565 Income tax (paid)/refund (29,453) (24,388)
Net cash inflow / (outflow) from operating activities 225,251 188,513
Cash flows from investing activities
Purchase of property, plant and equipment (144,436) (109,952) Proceeds from sale of property, plant and equipment 1,074 783 Purchase of intangible assets (6,921) (167,925) Short term investments (Net) (10,823) 46,590
(24,985) (373,991) 2,543 -
Investment in associates (98) - Loan to associates (172) - Loan repayment received from associates 210 -
Net cash inflow / (outflow) from investing activities (183,608) (604,495)
Cash flows from financing activities
Proceeds from issuance of borrowings 164,864 564,390 Repayment of borrowings (163,343) (139,104) Short term borrowings (net) (4,351) 4,300 Purchase of Treasury stock (544) (402) Interest paid (32,352) (21,595) Proceeds from exercise of stock options 187 96 Dividend paid (including tax) to Company's shareholders (ref (4,411) (4,428) Dividend paid (including tax) to non - controlling interests (157) - Acquisition of non-controlling interest - (6,104)
Net cash inflow / (outflow) from financing activities (40,107) 397,153
1,536 (18,829)Effect of exchange rate changes on cash and cash equivalents 493 (124)
Add : Balance as at the beginning of the year 6,008 24,961 Balance as at the end of the year (Refer note 24) 8,037 6,008
Year ended March 31, 2012
Year ended March 31, 2011
Investment in subsidiary, net of cash acquired (Refer note 6) Proceeds from disposal of subsidiary (refer note 7)
Net (decrease) / increase in cash and cash equivalents during the year
Description Mobile Services Others India & SA Africa
Revenue from external customers Rs. 386,716 Rs. 197,796 Rs. 33,694 Rs. 33,082 Rs. 12,919 Rs. 50,301 Rs. - Rs. - Rs. 714,508 Inter segment revenue 16,375 469 3,577 11,459 41 44,808 3,117 (79,846) Rs. - Total revenues 403,091 198,265 37,271 44,541 12,960 95,109 3,117 - 79,846 714,508
Segment result 82,244 14,147 7,149 2,629 (7,198) 14,641 (10,208) 38 103,442
Share of profits / (loss) in associates (74)Interest income (net) 2,643 Interest expense (net) (40,828)
Earnings before taxation 65,183
Segment assets 677,975 679,350 99,297 102,660 23,397 206,446 1,053 (458,647) 1,331,531 Unallocated segment assets 239,085 Consolidated total assets 1,570,616
Segment liabilities 159,656 229,597 64,621 44,194 42,908 43,533 1,428 (457,788) 128,149 Unallocated segment liabilities 908,659 Consolidated total liabilities 1,036,808
Other segment itemsPeriod capital expenditure (37,232) (72,789) (10,144) (7,025) (8,285) (13,800) (1,777) 7,074 (143,978)Investment in associatesDepreciation and amortisation (54,446) (38,644) (8,664) (5,684) (7,663) (21,303) (525) 3,248 (133,681)Deferred tax (expense) / benefit
Telemedia Services
Airtel Business
Digital TV Services
Passive Infra Services
Eliminations
Consolidated
Description Mobile Services Others India & SA Africa
Revenue from external customers Rs. 348,490 Rs. 130,721 Rs. 33,563 Rs. 30,202 Rs. 7,721 Rs. 44,686 Rs. - Rs. - Rs. 595,383 Inter segment revenue 14,910 113 2,761 11,261 39 40,869 2,741 (72,694) - Total revenues 363,400 130,834 36,324 41,463 7,760 85,555 2,741 - 72,694 595,383
Segment result 85,551 2,381 8,334 5,546 (5,181) 11,688 (9,667) - 98,652
Share of profits / (loss) in associates (57)Interest income (net) 3,536 Interest expense (net) (25,349)
Earnings before taxation 76,782
Segment assets 594,629 584,051 97,396 100,630 22,637 203,105 588 (282,381) 1,320,656 Unallocated segment assets 144,409 Consolidated total assets 1,465,064
Segment liabilities 155,603 139,369 69,837 46,201 34,581 40,733 1,027 (281,371) 205,980 Unallocated segment liabilities 742,853 Consolidated total liabilities 948,833
Other segment itemsPeriod capital expenditure (187,857) (35,236) (45,216) (11,426) (12,074) (23,622) (1,259) 9,742 (306,948)Investment in associates - - - - - - - - Depreciation and amortisation (41,346) (26,128) (8,155) (4,577) (4,086) (20,058) (563) 2,847 (102,066)Deferred tax (expense) / benefit 6,171
Telemedia Services
Airtel Business
Digital TV Services
Passive Infra Services
Eliminations
Consolidated