Janashakthi records highest PAT
Janashakthi Insurance PLC (JIPLC) recorded a Profit After Tax of Rs.
265.6 Mn as against Rs. 82.2 Mn of the preceding half year, resulting in
a very impressive growth rate of 223 percent.
|
Prakash Schaffter |
The Unaudited Interim Statement as at June 30, 2009 of the Company,
reflected a revenue of Rs. 2.961 Bn, a growth of 11.65 percent over the
previous year - Rs. 2.652 Bn.
Managing Director of Janashakthi Insurance PLC, Prakash Schaffter
said, "General Insurance business registered a growth of 5 percent to
reach Rs. 2.060 Bn. The Performance of Life Insurance Business also
increased by 5 percent to reach Rs. 702 Mn. The relatively low growth
was mainly due to the prevailing economic conditions, which is now
expected to improve considerably.
Schaffter said that the Company recorded impressive results as at the
half-year, mainly through the management of operating expenditure, which
recorded a saving of 3 percent over the earlier year and prudent
underwriting practices which resulted in Net Claims and benefits paid
also being lower than that of the previous year by 2 percent.
Despite the value being less than the previous year, the company
incurred Rs. 1.144 Bn in respect of claims to customers during the first
half of 2009. |
