Earning Review: EFUG's profitability declines on account of 100% rise in Net insurance claims

Jun-19

Jun-18

% Change

Net insurance premium

 18,491,395

 10,522,762

75.73%

Net insurance claims

 (9,635,655)

 (4,813,835)

100.17%

Net commission

 (3,814,275)

 (2,240,232)

70.26%

Insurance claims and acquisition expenses

 (13,449,930)

 (7,054,067)

90.67%

Management expenses

 (2,279,340)

 (1,515,035)

50.45%

Investment income - statutory fund

 4,819,975

 1,636,771

194.48%

Net realized fair value losses on financial assets

 (5,567,340)

 (496,676)

1020.92%

Net fair value loss on financial assets at fair value through profit and loss

 1,019,971

 (3,284,842)

-

Net change in insurance liabilities (other than outstanding claims)

 (2,171,030)

 1,158,369

-

Underwriting results

 863,701

 967,282

-10.71%

Investment income

 348,282

 368,834

-5.57%

Rental income

 53,351

 49,995

6.71%

Other income

 153,915

 74,463

106.70%

Other expenses

 (49,615)

 (39,390)

25.96%

Results of operating activities

 1,369,634

 1,421,184

-3.63%

Finance cost

 (8,412)

 -  

-

share of profit associate

 -  

 103,952

-

Profit from window takaful operations - Operator's fund

 88,216

 53,230

65.73%

Profit before tax

 1,449,438

 1,578,366

-8.17%

Income tax expenses

 (803,005)

 (94,671)

748.21%

Profit after tax

 646,433

 1,483,695

-56.43%

Earnings per share - basic and diluted (Rupees)

 2.05

 6.47

-68.32%