May 23, 2022: Pak-Qatar Takaful Group, which comprises of Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited has reported a profit before tax of Rs271 million for the year ended December 31, 2021, a press release said.
The group reviewed and approved the financial statements of both the companies for the year ended December 31, 2021, during the board meeting held recently.
Pak-Qatar Takaful is Pakistan’s pioneer and largest Takaful Group operating for more than a decade with the largest Takaful branch network nationwide.
Pak-Qatar Takaful Group achieved an aggregate turnover of around Rs11 billion. The group shareholders fund posted a net consolidated profit after tax of Rs207.5 million; while, the participant takaful fund generated a net consolidated surplus of Rs54.8 million for the year 2021.
Profit before tax of Pak-Qatar Family Takaful Limited (PQFTL) increased to Rs225 million as compared to Rs208 million last year, a growth of 8% despite all challenges (economic and political) and the global pandemic caused by COVID-19.
The company has increased its balance sheet footing through impressive growth in its investments and financing portfolio.
Pak-Qatar General Takaful Limited (PQGTL) posted a profit before tax of Rs46 million as compared to Rs17 million last year, a growth of 170%.
Meanwhile, the earnings per share (EPS) of Pak-Qatar Family Takaful Limited was recorded at Rs1.34 while Rs0.64 for Pak-Qatar General Takaful Limited.
The board appreciated the management for their efforts despite the pandemic to the impressive results of the Group.
