Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF CASH FLOWS

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Cash Flows From Operating Activities      
NET INCOME $ 211,369,000 $ 142,924,000 $ 22,130,000
Net (loss)/income from discontinued operations (104,195,000) 21,783,000 (2,028,000)
Net income from continued operations 315,564,000 121,141,000 24,158,000
Adjustments to reconcile net income from operating activities:      
Depreciation and amortization 2,614,000 2,079,000 1,105,000
Noncash lease expense 3,214,000 2,310,000 2,728,000
Subsidiaries goodwill impairment 832,000 0 0
Change in deferred taxes (4,820,000) 1,569,000 182,000
Stock compensation expense 7,858,000 114,000 423,000
Share based payment 0 517,000 1,053,000
Unrealized loss/(gain) on trading securities 49,893,000 (6,433,000) 10,552,000
Net change in accrued interest (12,933,000) (11,153,000) (278,000)
Allowance/(recovery) for receivables 2,206,000 1,516,000 (1,254,000)
Changes in operating assets and liabilities:      
Trading securities (600,959,000) (405,785,000) (14,543,000)
Brokerage and other receivables, net (103,183,000) 20,878,000 (16,946,000)
Other assets, net (5,686,000) (6,871,000) (4,924,000)
Securities sold, but not yet purchased - at fair value 5,296,000 8,508,000 0
Brokerage customer liabilities (23,237,000) 431,926,000 69,817,000
Current income tax liability 357,000 10,653,000 654,000
Trade payables 26,124,000 16,445,000 (21,715,000)
Changes in lease liability (3,351,000) (2,134,000) (2,711,000)
Other liabilities 9,704,000 2,140,000 176,000
Net cash flows (used in)/ from operating activities from continuing operations (330,507,000) 187,420,000 48,477,000
Net cash flows (used in)/from operating activities from discontinued operations (112,500,000) 347,017,000 34,145,000
Net cash flows used in operating activities (443,007,000) 534,437,000 82,622,000
Cash Flows From/(Used by) Investing Activities      
Purchase of fixed assets (4,964,000) (2,026,000) (1,996,000)
Proceeds from sale of fixed assets 116,000 15,000 1,000
Proceeds from sale/(purchase) of available-for-sale securities, at fair value 0 6,437,000 (6,508,000)
Purchase of intangible assets (271,000) 0 0
Loans purchased from microfinance organizations (59,839,000) 0 0
Loans sold to microfinance organization 12,106,000 0 0
Net change in loans issued to customers (41,620,000) (1,048,000) (7,801,000)
Consideration paid for Zerich 0 (7,110,000) 0
Consideration paid for PrimeEx 0 (2,500,000) 0
Consideration paid for Freedom Bank KZ 0 (53,097,000) 0
Cash, cash equivalents and restricted cash received from acquisitions 0 157,382,000 0
Net cash flows (used in)/from investing activities from continuing operations (94,472,000) 98,053,000 (16,304,000)
Net cash flows (used in)/from investing activities from discontinued operations (4,383,000) (2,232,000) (3,459,000)
Net cash flows used in investing activities (98,855,000) 95,821,000 (19,763,000)
Cash Flows From Financing Activities      
Repurchase/(repayment) of securities repurchase agreement obligations 416,044,000 296,664,000 (14,586,000)
Proceeds from issuance of debt securities 13,200,000 3,626,000 26,933,000
Repurchase of debt securities (9,988,000) (8,350,000) (9,585,000)
Repurchase of mortgage loans under the State Program (146,000) 0 0
Funds received under state program for financing of mortgage loans 7,022,000 0 0
Net change in bank customer deposits 142,364,000 8,483,000 0
Exercise of options 119,000 118,000 0
Proceeds from loans received 0 3,300,000 0
Repayment of loans received 0 0 (4,008,000)
Proceeds from share capital increase 0 0 455,000
Net cash flows from financing activities from continuing operations 568,615,000 303,841,000 (791,000)
Net cash flows from financing activities from discontinued operations 39,205,000 100,582,000 58,866,000
Net cash flows from financing activities 607,820,000 404,423,000 58,075,000
Effect of changes in foreign exchange rates on cash and cash equivalents from continuing operations (14,264,000) 1,883,000 (2,731,000)
Effect of changes in foreign exchange rates on cash and cash equivalents from discontinued operations (40,288,000) (5,652,000) (22,410,000)
Effect of changes in foreign exchange rates on cash and cash equivalents from discontinued operations (54,552,000) (3,769,000) (25,141,000)
NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH 11,406,000 1,030,912,000 95,793,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD FROM CONTINUING OPERATIONS 658,708,000 76,820,000 62,093,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD FROM DISCONTINUED OPERATIONS 559,385,000 110,361,000 29,295,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, BEGINNING OF PERIOD 1,218,093,000 187,181,000 91,388,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD FROM CONTINUING OPERATIONS 772,613,000 658,708,000 76,820,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD FROM DISCONTINUED OPERATIONS 456,886,000 559,385,000 110,361,000
CASH, CASH EQUIVALENTS AND RESTRICTED CASH, END OF PERIOD 1,229,499,000 1,218,093,000 187,181,000
Supplemental disclosure of cash flow information:      
Cash paid for interest (26,336,000) (15,508,000) (8,696,000)
Income taxes paid (44,473,000) (11,017,000) (4,053,000)
Supplemental non-cash disclosures:      
Operating lease right-of-use assets obtained in exchange for operating lease obligations on adoption of new lease standard 0 0 16,979,000
Operating lease right-of-use assets obtained/disposed of in exchange for operating lease obligations during the period, net 6,987,000 1,269,000 523,000
Cash and cash equivalents 224,663,000 168,017,000 11,242,000
Restricted cash 547,950,000 490,691,000 65,578,000
Total cash, cash and cash equivalents and restricted cash shown in the statement of cash flows $ 772,613,000 $ 658,708,000 $ 76,820,000