|
Pakistan Reinsurance
Company Limited |
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| Profit
and Loss Account |
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| for
the year ended March 31, 2003 (Unaudited) |
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Note |
Fire |
Marine Cargo |
Marine Hull |
Accident |
Aviation |
Engineering |
31-Mar-03 |
31-Mar-02 |
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__Rupees__ |
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| Revenue Account |
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| Net preemium revenue |
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193,356,872 |
76,763,369 |
336,507 |
263,656,098 |
14,684,343 |
35,749,517 |
584,546,706 |
431,490,625 |
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| Net claim |
|
(12,688,020) |
76,926,063 |
(35,336) |
38,489,197 |
3,220,826 |
12,459,952 |
118,372,682 |
224,010,109 |
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| Management
expanses |
6,561,695 |
2,619,616 |
8,813 |
10,782,159 |
734,403 |
1,316,142 |
22,022,828 |
20,671,782 |
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| Net commission |
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54,335,265 |
20,478,023 |
(92,142) |
54,493,257 |
(501,902) |
(4,681,621) |
124,030,880 |
157,379,496 |
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| Underwriting result |
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145,147,932 |
(23,260,333) |
455,172 |
159,891,485 |
11,231,016 |
26,655,044 |
320,120,316 |
29,429,238 |
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| Investment income |
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| Exchange gain |
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36,490,595 |
31,757,563 |
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| Rental income |
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(3,326,650) |
171,082 |
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| Other income |
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- |
501,795 |
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37,437 |
711,706 |
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| General and
administration expanses |
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353,321,698 |
62,571,384 |
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| Provisoin
for assets in bangladesh |
|
2,151,407 |
853,917 |
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| Provisoin /
reversal of dimunition in value of Investments |
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- |
- |
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| Profit before tax |
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351,170,291 |
61,717,467 |
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| Provision for taxation |
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|
120,000,000 |
21,600,000 |
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| Profit after tax |
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231,170,291 |
40,117,467 |
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| Profit
and loss appropriation account -
Opening balance |
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137852321 |
54,747,866 |
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| Reversal of
dimunition in value of Investments |
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- |
- |
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| Transfer
(to) / from reserver |
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| General reserve |
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| Propsed dividend |
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| Profit
and loss appropriation account - closing balance |
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369,022,612 |
9,486,533 |
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| The
annexed notes for an integral part of these financial statements |
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| Naheed Hyder |
|
Maj.( R) Mohammad Fazal Durrani |
Mr. Sharif Ijaz Ghauri |
Fazlur Rehman Dittu |
| Executive Director (F&A) |
|
Chief Executive |
Director |
Director |
| Karachi, June 19, 2003 |
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