FORM NL-2-B-PL
Name of the Insurer:  GENERAL INSURANCE CORPORATION OF INDIA
Registration No.  112
Date of  Registration with the IRDA : 2nd April, 2001
PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 31.03.2013						( ` IN 000)
	PARTICULARS	SCHEDULE	FOR THE QUARTER	TWELVE MONTH ENDING 31.03.2013	FOR THE QUARTER OF THE PRECEDING YEAR	TWELVE MONTH ENDING 31.03.2012
	-	-	( Rs. IN 000)	( Rs. IN 000)	( Rs. IN 000)	( Rs. IN 000)
1	OPERATING PROFIT/(LOSS)
	(a)  Fire Insurance		5956 686	3816 233	-9126 052	-24055 370
	(b)  Marine Insurance		2899 456	5958 037	-3310 210	-4700 705
	(c )  Miscellaneous Insurance		865 940	8550 157	-5087 497	-7014 448
	(d) Life Insurance		-76 513	22 852	27 404	229 442
2	INCOME FROM INVESTMENTS
	(a) Interest, Dividend & Rent – Gross		1156 620	4492 459	1598 136	6937 370
	(b) Profit on sale of investments		1369 705	2400 613	541 691	1443 844
	Less: Loss on sale of investments
3	OTHER INCOME (To be specified)
	Profit on Exchange		-1756 302	274 019	-1243 462	3381 161
	Profit on sale of Assets (Net)		0	0	- 68	895
	Sundry Balances Written Back (Net)		0	0	0	0
	Interest on Income-tax Refund		298 386	307 530	411 505	490 633
	Motor Pool Service Charges		-10 867	0	-53 858	257 435
	Miscellaneous Receipts		798	7 856	4 997	10 292
	TOTAL (A)		10703 909	25829 756	-16237 414	-23019 451
4	Provision for Doubtful Loans, Investment & Debts		50 283	95 680	1153 281	1506 990
5.	Amortisation of premium on Investments		49 026	188 507	48 262	202 050
6.	Diminution in the value of investments written off		30 832	32 281	109 932	161 486
7.	OTHER EXPENSES		0		0
	Expenses relating to Investments		2 491	9 915	5 421	16 748
	Loss on Exchange		0	0	0	0
	Loss on sale of Assets (Net)		39	85	0	0
	Sundry Balances Written off (Net)		0	0	0	3
	Loss on Distribution of LPA Assets		0	0	0	0
	Interest on Service Tax		1681 570	1681 570	0	0
	TOTAL (B)		1814 241	2008 038	1316 896	1887 277
	Profit Before Tax		8889 668	23821 718	-17554 310	-24906 728
	Provision for Taxation :
	Current Tax		1833 138	4060 000	1	7
	Wealth Tax		2 000	2 028	2265	2 728
	Mat Tax		-1439 872	-3666 672	0	0
	Deferred Tax		-19 939	-19 855	-21679	-35 340
	Fringe Benefit Tax		0	0	0	0
	Provision for Tax in respect of earlier years		0	0	-186624	-186 624
	Profit after Tax		8514 341	23446 217	-17348 273	-24687 499
	Balance brought forward from last year		0	-24678 928	0	599
	Profit available for appropriation		8514 341	-1232 711	-17348 273	-24686 900
	APPROPRIATIONS
	(a)                 Interim dividends paid during the year
	(b)                 Proposed final dividend		4687 000	4687 000	0	0
	(c)                 Dividend distribution tax		796 556	796 556	0	-7 972
	(d)                 Transfer to General Reserve		2344 622	2344 622	0	0
	(e) Balance carried forward to Balance Sheet		686 163	-9060 889	-17348273	-24678 928
			8514 341	-1232 711	-17348 273	-24686 900
Notes:  to Form NL-1-B-RA and NL-2-B- PL
(a) Premium income received from business concluded in and outside India shall be separately disclosed.
(b) Reinsurance premiums whether on business ceded or accepted are to be brought into account gross (i.e. before deducting commissions) under the head reinsurance premiums.
(c) Claims incurred shall comprise claims paid, specific claims settlement costs wherever applicable and change in the outstanding provision for claims at the year-end,.
(d) Items of expenses and income in excess of one percent of the total premiums (less reinsurance) or Rs.5,00,000 whichever is higher, shall be shown as a separate line item.
(e) Fees and expenses connected with claims shall be included in claims.
(f) Under the sub-head "Others” shall be included items like foreign exchange gains or losses and other  items.
(g) Interest, dividends and rentals receivable in connection with an investment should be stated as gross amount, the amount of income tax deducted at source being included under 'advance taxes paid and taxes deducted at source”..
(h) Income from rent shall include only the realised rent. It shall not include any notional rent.