Annual report pursuant to Section 13 and 15(d)

RECAST - STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (Details)

v3.23.1
RECAST - STATEMENTS OF OPERATIONS AND STATEMENTS OF OTHER COMPREHENSIVE INCOME (Details) - USD ($)
$ / shares in Units, $ in Thousands
 12 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Mar. 31, 2020
Revenue:      
Fee and commission income $ 335,444 $ 215,996 $ 61,192
Net gain on trading securities 156,345 25,911 8,332
Interest income 90,153 22,815 13,581
Net (loss)/gain on foreign exchange operations 1,979 1,143 288
Net gain on derivatives 946 86 0
TOTAL REVENUE, NET 584,867 265,951 83,393
Expense:      
Fee and commission expense 73,243 65,978 19,415
Interest expense 65,449 18,606 10,200
Operating expense 88,564 35,453 25,678
Provision for impairment losses/(recoveries) 2,206 1,517 (1,254)
Other expense/(income), net 1,312 (106) 263
TOTAL EXPENSE 230,774 121,448 54,302
INCOME BEFORE INCOME TAX 354,093 144,503 29,091
Income tax expense (38,529) (23,362) (4,933)
INCOME FROM CONTINUING OPERATIONS 315,564 121,141 24,158
Income/(loss) before income tax (expense)/benefit of discontinued operations (117,199) 28,518 (958)
Income tax (expense)/benefit of discontinued operations 13,004 (6,735) (1,070)
Net (loss)/income from discontinued operations (104,195) 21,783 (2,028)
NET INCOME 211,369 142,924 22,130
Less: Net (loss)/income attributable to non-controlling interest in subsidiary (6,566) 631 (2,707)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 217,935 142,293 24,837
OTHER COMPREHENSIVE INCOME      
Change in unrealized gain on investments available-for-sale, net of tax effect 0 0 (71)
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect 0 71 0
Translation difference (17,245) 1,857 (14,851)
OTHER COMPREHENSIVE INCOME (17,245) 1,928 (14,922)
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS 194,124 144,852 7,208
Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary (6,566) 631 (2,707)
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 200,690 $ 144,221 $ 9,915
Earnings Per Share, Basic (in dollars per share) $ 3.67 $ 2.44 $ 0.43
Earnings Per Share, Diluted (in dollars per share) 3.67 2.43 0.43
Earnings from continuing operations per common share - basic (in dollars per share) 5.43 2.06 0.46
Earnings from continuing operations per common share - Diluted (in dollars per share) 5.43 2.06 0.46
(Loss)/earnings from discontinued operations per common share - basic (in dollars per share) (1.75) 0.37 (0.03)
(Loss)/earnings from discontinued operations per common share - Diluted (in dollars per share) $ (1.75) $ 0.37 $ (0.03)
As previously reported      
Revenue:      
Fee and commission income $ 417,774 $ 268,776 $ 87,473
Net gain on trading securities 77,671 46,186 14,923
Interest income 105,965 34,036 17,329
Net (loss)/gain on foreign exchange operations (37,693) 3,428 2,315
Net gain on derivatives 946 125 (138)
TOTAL REVENUE, NET 564,663 352,551 121,902
Expense:      
Fee and commission expense 81,231 73,100 21,936
Interest expense 75,899 27,366 12,399
Operating expense 161,593 77,434 59,990
Provision for impairment losses/(recoveries) 2,985 1,561 (1,164)
Other expense/(income), net 6,061 68 609
TOTAL EXPENSE 327,769 179,529 93,770
INCOME BEFORE INCOME TAX 236,894 173,022 28,132
Income tax expense (25,525) (30,098) (6,002)
INCOME FROM CONTINUING OPERATIONS 211,369 142,924 22,130
Income/(loss) before income tax (expense)/benefit of discontinued operations 0 0 0
Income tax (expense)/benefit of discontinued operations 0 0 0
Net (loss)/income from discontinued operations 0 0 0
NET INCOME 211,369 142,924 22,130
Less: Net (loss)/income attributable to non-controlling interest in subsidiary (6,566) 631 (2,707)
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 217,935 142,293 24,837
OTHER COMPREHENSIVE INCOME      
Change in unrealized gain on investments available-for-sale, net of tax effect 0 0 (71)
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect 0 71 0
Translation difference (17,245) 1,857 (14,851)
OTHER COMPREHENSIVE INCOME (17,245) 1,928 (14,922)
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS 194,124 144,852 7,208
Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary (6,566) 631 (2,707)
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 200,690 $ 144,221 $ 9,915
Earnings Per Share, Basic (in dollars per share) $ 3.56 $ 2.45 $ 0.38
Earnings Per Share, Diluted (in dollars per share) $ 3.56 $ 2.45 $ 0.38
As recast      
Revenue:      
Fee and commission income $ (82,330) $ (52,780) $ (26,281)
Net gain on trading securities 78,674 (20,275) (6,591)
Interest income (15,812) (11,221) (3,748)
Net (loss)/gain on foreign exchange operations 39,672 (2,285) (2,027)
Net gain on derivatives 0 (39) 138
TOTAL REVENUE, NET 20,204 (86,600) (38,509)
Expense:      
Fee and commission expense (7,988) (7,122) (2,521)
Interest expense (10,450) (8,760) (2,199)
Operating expense (73,029) (41,981) (34,312)
Provision for impairment losses/(recoveries) (779) (44) (90)
Other expense/(income), net (4,749) (174) (346)
TOTAL EXPENSE (96,995) (58,081) (39,468)
INCOME BEFORE INCOME TAX 117,199 (28,519) 959
Income tax expense (13,004) 6,736 1,069
INCOME FROM CONTINUING OPERATIONS 104,195 (21,783) 2,028
Income/(loss) before income tax (expense)/benefit of discontinued operations (117,199) 28,518 (958)
Income tax (expense)/benefit of discontinued operations 13,004 (6,735) (1,070)
Net (loss)/income from discontinued operations (104,195) 21,783 (2,028)
NET INCOME 0 0 0
Less: Net (loss)/income attributable to non-controlling interest in subsidiary 0 0 0
NET INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS 0 0 0
OTHER COMPREHENSIVE INCOME      
Change in unrealized gain on investments available-for-sale, net of tax effect 0 0 0
Reclassification adjustment relating to available-for-sale investments disposed of in the period, net of tax effect 0 0 0
Translation difference 0 0 0
OTHER COMPREHENSIVE INCOME 0 0 0
COMPREHENSIVE INCOME BEFORE NON-CONTROLLING INTERESTS 0 0 0
Less: Comprehensive (loss)/income attributable to non-controlling interest in subsidiary 0 0 0
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ 0 $ 0 $ 0