Earnings Report: Askari General Insurance Co. Ltd. (PSX: AGIC) today reported Financial Results for the Three and Six months ended June 30, 2017
MG News | August 25, 2017 at 02:38 PM GMT+05:00
Askari General Insurance Co. Ltd. announced Financial Results for the period ended June 30, 2017.
The company’s Net Premium Revenue = for the period increased by 4.83 percent in the outgoing year, whereas the Profit after Taxation for the Period increased by 16.48 percent.
Comparison of Key Financials
| Unconsolidated Profit and Loss Account - For the Six Months Ended | |||
| Key Financials | Jan - June, 2017 | Jan - Jun, 2016 | % Change |
| Amounts in PKR ‘000 | |||
| Net Premium revenue | 649,769 | 619,819 | 4.83% |
| Net Claims | 313,455 | 298,594 | 4.98% |
| Expenses | 157,770 | 152,405 | 3.52% |
| Net commission | 3,904 | 22,673 | -82.78% |
| Underwriting Results | 182,448 | 191,493 | -4.72% |
| Investment Income | 93,932 | 48,993 | 91.73% |
| Rental Income | 2,149 | 1,684 | 27.61% |
| Other Income | 1,095 | 2,025 | -45.93% |
| Profit on bank deposits | 3,044 | 2,509 | 21.32% |
| Finance Cost | 2,367 | 1,860 | 27.26% |
| General and Admin: Expenses | 96,470 | 88,308 | 9.24% |
| Profit before tax from General Operations | 183,831 | 156,446 | 17.50% |
| Profit/(loss) before tax from window takaful operation - OPF | 10,330 | 158 | 6437.97% |
| Profit before tax | 194,161 | 156,278 | 24.24% |
| PAT | 126,988 | 109,025 | 16.48% |
| Total comprehensive income for the year | 126,988 | 109,025 | 16.48% |
| Balance of unappropriated profit at end of the period | 641,172 | 621,801 | 3.12% |
| EPS - Basic and diluted | 2.03 | 1.79 | 13.41% |
Company release on Earnings Report can be accessed here.
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