Name: General Insurance Corporation of India
Address: Suraksha, 170, J. Tata Road, Churchgate, Mumbai, Maharashtra, 400020, IN

P & L - Consolidated Financial Statement 2016-17

GENERAL INSURANCE CORPORATION OF INDIA
Registration No. 112
Date of Registration with IRDAI : 2nd April, 2001
CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2017
	Particulars	Schedule	Current Year	Previous Year
			(` '000)	(` '000)
1.	Operating Profit/-Loss
	(a) Fire Insurance		6,876,758	7,490,694
	(b) Marine Insurance		3,854,397	4,582,460
	(c) Miscellaneous Insurance		16,360,994	3,800,651
	(d) Life Insurance		(1,094,710)	702,801
2.	Income from Investments
	(a) Interest, Dividend & Rent - Gross		9,545,328	8,317,204
	(b) Profit on sale of Investments		5,784,575	5,087,417
	Less: Loss of sale of Investment		-	-
3.	Other Income:
	Forex Gain/( Loss)		11	777,981
	Profit on sale of Assets (Net)		-	-
	Sundry Balances Written Back (Net)		-	-
	Interest on Income-tax Refund		166,816	-
	(Provision) / Doubtful Debts written back		-	1,573,298
	Miscellaneous Receipts		14,381	23,340
	Total (A)		41,508,550	32,355,846
4.	Provision for Doubtful Loans & Investment		293,993	420,091
5	(Provision) for Doubtful Debts written back		2,305,578	-
6	Amortisation of premium on Investments		185,152	185,605
7	Diminution in the value of investments written off		556,439	1,359,916
8	Other Expenses :
	Expenses relating to Investments		17,318	13,752
	Loss on Exchange			229,905	-
	(Profit)/Loss on sale of Assets (Net)		2,223	223
	Sundry Balances Written off (Net)		-	-
	Interest & Others		56,293	7,519
	Corporate Social Responsibility Expenses		160,272	490,936
	Total (B)		3,807,173	2,478,042
	Profit Before Tax		37,701,377	29,877,804
	Provision for Taxation :
	Current Tax		6,620,000	5,123,792
	Wealth Tax		-	-
	MAT Credit		(1,442,537)	(1,884,959)
	Deferred Tax		(109,196)	150,425
	Provision for Tax in respect of earlier years		(224,937)	(101,341)
	MAT Credit of earlier year		119,319	(2,205,632)
	Profit After Tax		32,738,728	28,795,519
	Share of Profit in Asoociates Companies		3,977,124	1,373,349
	Profit for the year		36,715,852	30,168,868
	Appropriations
	(a) Balance brought forward from last year		12,179,002	10,493,923
	(b) Interim dividend		-	-
	(c) Proposed Final dividend		-	8,600,000
	(d) Dividend distribution tax		-	1,750,788
	(e) Transfer to General Reserve		-	18,133,000
	Balance carried forward to Balance Sheet		48,894,858	12,179,002
	Basic and Diluted EPS		8.54	7.02