| 166 Annual Report | 2023-2024 Financials (i) Amount recognised in the balance sheet is as under: Particulars As at 31 March 2024 As at 31 March 2023 Present value of obligation 28.21 35.31 Net obligation recognised in balance sheet as provision 28.21 35.31 (ii) Amount recognised in the statement of profit and loss is as under: Particulars Year ended 31 March 2024 Year ended 31 March 2023 Current service cost - - Past service cost - - Settlement credit - (99.79) Net interest on net defined benefit liability/ (asset) 1.32 2.92 Immediate recognition of (gains)/ losses (0.03) (0.95) Payment made during the year (8.39) (35.60) Net impact on profit (before tax) (7.10) (133.42) (iii) Movement in the present value of defined benefit obligation recognised in the balance sheet is as under: Particulars As at 31 March 2024 As at 31 March 2023 Present value of defined benefit obligation as at the beginning of the year 35.31 168.73 Current service cost - (99.79) Interest cost 1.32 2.92 Benefits paid (8.39) (35.60) Actuarial loss/ (gain) on obligation Actuarial (gain)/ loss on arising from change in financial assumption - (0.02) Actuarial loss on arising from experience adjustment (0.03) (0.93) Present value of defined benefit obligation as at the end of the year 28.21 35.31 (iv) Actuarial assumptions Particulars Year ended 31 March 2024 Year ended 31 March 2023 Discounting rate 7.00% 7.20% Future salary increase Not applicable Not applicable Retirement age (in years) - - Withdrawal rate upto 5 years of service Not applicable Not applicable More than 5 years of service Not applicable Not applicable Weighted average duration (in years) 1 1 Note 37: Employee benefits (Cont'd) B) Defined benefit plans (Cont'd) Arohan Financial Services Limited Notes to financial statements for the year ended March 31, 2024 (Contd.) (All amounts in ` lakhs unless otherwise stated)
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