EFU General Insurance (EFUG) today announced financial results for the three months period ending 31 March, 2018 reporting Sales at Rs. 1.865 billion; up 2.53 percent from same period last year. Furthermore, the company’s Net Insurance Claims rose to Rs. 751.282 million from Rs. 725.618 million last year during the outgoing three months.
On the expenses front, EFUG reported 6.03 percent increase in Insurance Clams and Acquisition Expenses, 12.77 percent increase in Management Expenses, whereas, Finance Costs incurred by the company went up by 126983.33 percent during the period.
Furthermore, EFUG also reported a 4.48 percent increase in Other Income reaching Rs. 25.163 million during the three months.
EFU General Insurance Limited reported profit after taxation at Rs. 430.663 million against Rs. 606.191 million during the same period last year translating into an EPS of Rs. 2.15 vs. an EPS of Rs. 3.03 during the three months ending March, 2017.
|
Unconsolidated Profit and Loss Account – For the Three Months Ended, March 30th 2018 |
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|---|---|---|---|
|
Key Financials |
March, 2018 |
March, 2017 |
% Change |
|
Amounts in PKR’ 000 |
|||
|
Net Insurance Premium |
1,865,786 |
1,819,791 |
2.53% |
|
Net Insurance Claims |
751,282 |
725,618 |
3.54% |
|
Insurance Claims and Acquisition Expenses |
942,428 |
888,810 |
6.03% |
|
Management Expenses |
651,817 |
577,982 |
12.77% |
|
Underwriting Results |
271,541 |
352,999 |
-23.08% |
|
Investment Income |
188,726 |
210,829 |
-10.48% |
|
Rental Income |
19,343 |
12,354 |
56.57% |
|
Other Income |
25,163 |
24,085 |
4.48% |
|
Other Expenses |
19,414 |
13,807 |
40.61% |
|
Results for Operating Activities |
485,359 |
586,460 |
-17.24% |
|
Finance Costs |
7,625 |
6 |
126983.33% |
|
Profit before Tax from Takaful Operations |
33,086 |
10,098 |
227.65% |
|
Profit before Tax |
617,756 |
847,752 |
-27.13% |
|
Income Tax Expense |
187,093 |
241,561 |
-22.55% |
|
Profit after Tax |
430,663 |
606,191 |
-28.96% |
|
EPS |
2.15 |
3.03 |
-29.04% |
Company release on Earnings Report can be accessed here.
