Janashakthi PLC group posted a total income of Rs.13, 759 million for the nine months ended December 31, 2017 which is an increase when compared to Rs. 12,922 million in the corresponding period of the previous year.
Chief Executive Officer Ramesh Schaffter said this represents an increase of 6.4% year on year. Group loss after tax was Rs. 515 million against the Rs. 334 million profit recorded for the corresponding period of the previous year.
The asset base of the group stood at Rs. 57 billion, Janashakthi PLC reported a total income of Rs. 162 million for the 06 months ended December 31, 2017, compared to 146 million in the previous year.
The company’s main subsidiary, Janashakthi Insurance PLC reported a consolidated profit after tax of Rs. 507 million for the nine months ended September 30, 2017 when compared to Rs. 789 million for the nine months ended September 30, 2016.
Profitability was adversely affected by high claims in both the fire and engineering and the medical segment during the period under review. At 30 September 2017, the Janashakthi Insurance PLC had an asset base of Rs. 35.7 billion with a market capitalization of Rs. 8.1 billion.
The prudent management of investments by Janashakthi Insurance PLC helped increase the investment income by Rs. 441 million which is a remarkable increase of 32% over the previous year.
This was the mainstay for the increase in Other Revenue which reached Rs. 2,241 million, an increase of Rs. 515 million over the same period last year. The company recorded a total income of Rs. 2.58 billion for the 09 months ended 31 December 2017 when compared to Rs. 2.41 billion in the corresponding period of the previous year. This represents an increase of 7% year on year.
Chief Executive Officer Ramesh Schaffter said this represents an increase of 6.4% year on year. Group loss after tax was Rs. 515 million against the Rs. 334 million profit recorded for the corresponding period of the previous year.
The asset base of the group stood at Rs. 57 billion, Janashakthi PLC reported a total income of Rs. 162 million for the 06 months ended December 31, 2017, compared to 146 million in the previous year.
The company’s main subsidiary, Janashakthi Insurance PLC reported a consolidated profit after tax of Rs. 507 million for the nine months ended September 30, 2017 when compared to Rs. 789 million for the nine months ended September 30, 2016.
Profitability was adversely affected by high claims in both the fire and engineering and the medical segment during the period under review. At 30 September 2017, the Janashakthi Insurance PLC had an asset base of Rs. 35.7 billion with a market capitalization of Rs. 8.1 billion.
The prudent management of investments by Janashakthi Insurance PLC helped increase the investment income by Rs. 441 million which is a remarkable increase of 32% over the previous year.
This was the mainstay for the increase in Other Revenue which reached Rs. 2,241 million, an increase of Rs. 515 million over the same period last year. The company recorded a total income of Rs. 2.58 billion for the 09 months ended 31 December 2017 when compared to Rs. 2.41 billion in the corresponding period of the previous year. This represents an increase of 7% year on year.
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