Jubilee General Insurance profits drop by 9.13% in 3QFY19

News Image

By MG News | October 23, 2018 at 02:27 PM GMT+05:00

0:00

October 23, 2018 (MLN): Jubilee General Insurance’s profits for the nine months period ended 30th September 2018 have sunk by 9.13%, as a result of increase in several cost generating streams of the company.

According to the latest notification issued by PSX, the top-line earnings of the company improved by 7.83%, whereas the insurance claim and management expenses grew by 17.09% and 16.66% respectively, causing the underwriting results to slither by 92.88%.

The investment income (24.74%), Rental income (4.67%) and Non-core income (19.8%) exhibited considerable growth, wrenching down the impact on operating activates to just 7.88%.

Furthermore, increase in profits from Takaful operations caused the profit before tax to fall down by a mere 6.71%

With the income taxes showing a slight increase of just 1.9%, the overall impact on profits after tax was a 9.13% drop.

The Earnings per share of the company reported a decline of 9.05% for the period ended September 30, 2018

Profit and loss account for the nine months ended September 30th 2018 (Rupees’000)

 

Sep-18

Sep-17

% Change

Net insurance premium

3,733,617

3,462,419

7.83%

Insurance claims and acquisition expenses

2,512,466

2,145,781

17.09%

Management expenses

1,200,673

1,029,192

16.66%

Underwriting results

20,478

287,446

-92.88%

Investment income

857,597

687,520

24.74%

Rental Income

67,048

64,056

4.67%

Other income

69,905

58,350

19.80%

Other expenses

-54,162

-54,353

-0.35%

Results of operating activities

960,866

1,043,019

-7.88%

Share in profit of associates

150,556

167,922

-10.34%

Profit from Window Takaful Operations

62,476

47,454

31.66%

Profit before tax

1,173,898

1,258,395

-6.71%

Income tax expense

-412,850

-420,859

-1.90%

Profit after tax

761,048

837,536

-9.13%

Earnings per share - Rupees

4.22

4.64

-9.05%

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 130,344.03
345.79M
1.67%
2144.61
ALLSHR 81,023.99
1,021.87M
1.55%
1236.37
KSE30 39,908.26
141.62M
2.05%
803.27
KMI30 189,535.00
150.29M
1.40%
2619.39
KMIALLSHR 54,783.66
508.76M
1.07%
581.78
BKTi 34,940.73
55.86M
4.37%
1464.05
OGTi 28,296.06
16.02M
1.19%
333.47
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,290.00 110,105.00
109,205.00
-995.00
-0.90%
BRENT CRUDE 68.56 69.00
68.41
-0.55
-0.80%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
0.75
0.78%
ROTTERDAM COAL MONTHLY 109.20 110.00
108.25
1.70
1.58%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 66.94 67.50
66.78
-0.51
-0.76%
SUGAR #11 WORLD 15.56 15.97
15.44
-0.14
-0.89%

Chart of the Day


Latest News
July 03, 2025 at 06:01 AM GMT+05:00

MG Morning Breeze: Updates to Skim before Market


July 02, 2025 at 11:05 PM GMT+05:00

Cement sales flat in FY25


July 02, 2025 at 10:50 PM GMT+05:00

SBP reserves cross $14bn mark in FY25


July 02, 2025 at 05:29 PM GMT+05:00

CDNS revises profit rates on savings schemes



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg