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CONSOLIDATED
CASH FLOW STATEMENT |
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FOR THE YEAR
ENDED DECEMBER 31, 2010 |
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(Restated) |
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2010 |
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2009 |
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Note |
-------(Rupees)------- |
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CASH FLOWS FROM OPERATING ACTIVITIES |
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(Loss)/profit before taxation |
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(274,070,362) |
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33,188,718 |
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Less: dividend income |
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(104,331,154) |
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(85,518,834) |
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Mark-up/return/interest earned |
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- |
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- |
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(378,401,516) |
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(52,330,116) |
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Adjustments for non-cash items |
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Mark-up/return/interest expensed |
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- |
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- |
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Depreciation |
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144,510,822 |
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166,164,304 |
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Provision against non-performing loans and
advances |
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113,083,189 |
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304,629,834 |
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Provision for diminution in the value of
investments |
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107,578,931 |
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79,170,922 |
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Provision against lendings to financial
institutions |
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(23,500,000) |
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23,500,000 |
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Bad debts written off directly |
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8,181,908 |
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5,478,785 |
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Exchange gain |
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(504,287) |
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(490,000) |
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Impairment loss on quoted securities |
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21,683,756 |
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276,400,826 |
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Unrealized (gain)/loss on investments |
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(780,981) |
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3,569,223 |
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Provision for gratuity |
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6,199,882 |
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6,516,370 |
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Gain on disposal of investment property |
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(21,870,244) |
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- |
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Gain on disposal of operating fixed assets |
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(1,570,813) |
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(12,557,162) |
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353,012,163 |
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852,383,102 |
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(25,389,353) |
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800,052,986 |
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Decrease/(increase) in operating assets |
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Lendings to financial institutions |
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1,812,315,068 |
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(1,035,072,818) |
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Advances |
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335,119,435 |
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2,207,789,226 |
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Investment property |
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9,726,980 |
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(255,432,737) |
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Other assets |
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74,789,786 |
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379,617,231 |
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2,231,951,269 |
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1,296,900,902 |
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(Decrease)/Increase in operating liabilities |
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Borrowings |
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(1,715,110,759) |
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(2,931,265,028) |
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Bills payable |
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- |
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- |
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Liabilities against assets subject to finance
lease |
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- |
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- |
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Deposits and other accounts |
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(1,577,794,615) |
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37,223,039 |
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Other liabilities |
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(14,766,535) |
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29,797,791 |
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Underwriting provision |
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(71,184,554) |
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(101,438,672) |
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Deferred liabilities |
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(14,613,588) |
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(24,450,455) |
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(3,393,470,051) |
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(2,990,133,325) |
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(1,186,908,135) |
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(893,179,437) |
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Mark-up/return/interest received |
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- |
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- |
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Mark-up/return/interest paid |
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- |
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- |
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Gratuity paid |
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(2,841,624) |
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(2,486,350) |
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Income tax paid |
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(497,204,949) |
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(155,558,672) |
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(500,046,573) |
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(158,045,022) |
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Net cash used in operating activities |
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(1,686,954,708) |
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(1,051,224,459) |
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CASH FLOW FROM INVESTING ACTIVITIES |
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Net investment in available for sale
securities |
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(967,260,551) |
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1,390,158,286 |
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Net investment in held to maturity securities |
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102,488,198 |
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(275,233,587) |
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Net investment in held for trading securities |
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140,347,688 |
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(88,730,003) |
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Investment in operating fixed assets |
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(12,905,937) |
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(45,778,641) |
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Dividend received |
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105,634,904 |
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84,715,084 |
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Sale proceeds from sale of operating fixed
assets |
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5,876,097 |
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151,247,133 |
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Net cash flow (used in)/ from investing
activities |
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(625,819,601) |
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1,216,378,272 |
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CASH FLOW FROM FINANCING ACTIVITIES |
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Cash received against right issue |
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- |
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1,000,000,000 |
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Dividend paid |
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- |
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- |
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Net cash flow from financing activities |
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- |
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1,000,000,000 |
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Net (decrease)/ increase in cash and cash
equivalents |
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(2,312,774,309) |
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1,165,153,813 |
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Cash and cash equivalents at beginning of the
year |
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2,640,338,579 |
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1,475,184,766 |
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Cash and cash equivalents at end of the year |
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34 |
327,564,270 |
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2,640,338,579 |
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| CHIEF
EXECUTIVE DIRECTOR |
|
DIRECTOR |
|
CHAIRMAN |
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