| 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 | TWELVE MONTH ENDING 31.03.2013 | TWELVE MONTH ENDING 31.03.2012 | |
| 1 | OPERATING PROFIT/(LOSS) | |||
| (a) Fire Insurance | 3816 233 | -24055 370 | ||
| (b) Marine Insurance | 5958 037 | -4700 705 | ||
| (c ) Miscellaneous Insurance | 8550 157 | -7014 448 | ||
| (d) Life Insurance | 22 852 | 229 442 | ||
| 2 | INCOME FROM INVESTMENTS | |||
| (a) Interest, Dividend & Rent – Gross | 4492 459 | 6937 370 | ||
| (b) Profit on sale of investments | 2400 613 | 1443 844 | ||
| Less: Loss on sale of investments | ||||
| 3 | OTHER INCOME (To be specified) | |||
| Profit on Exchange | 274 019 | 3381 161 | ||
| Profit on sale of Assets (Net) | 0 | 895 | ||
| Sundry Balances Written Back (Net) | 0 | 0 | ||
| Interest on Income-tax Refund | 307 530 | 490 633 | ||
| Motor Pool Service Charges | 0 | 257 435 | ||
| Miscellaneous Receipts | 7 856 | 10 292 | ||
| TOTAL (A) | 25829 756 | -23019 451 | ||
| 4 | Provision for Doubtful Loans, Investment & Debts | 95 680 | 1506 990 | |
| 5. | Amortisation of premium on Investments | 188 507 | 202 050 | |
| 6. | Diminution in the value of investments written off | 32 281 | 161 486 | |
| 7. | OTHER EXPENSES | |||
| Expenses relating to Investments | 9 915 | 16 748 | ||
| Loss on Exchange | 0 | 0 | ||
| Loss on sale of Assets (Net) | 85 | 0 | ||
| Sundry Balances Written off (Net) | 0 | 3 | ||
| Loss on Distribution of LPA Assets | 0 | 0 | ||
| Interest on Service Tax | 1681 570 | 0 | ||
| TOTAL (B) | 2008 038 | 1887 277 | ||
| Profit Before Tax | 23821 718 | -24906 728 | ||
| Provision for Taxation : | ||||
| Current Tax | 4060 000 | 7 | ||
| Wealth Tax | 2 028 | 2 728 | ||
| Mat Tax | -3666 672 | 0 | ||
| Deferred Tax | -19 855 | -35 340 | ||
| Fringe Benefit Tax | 0 | 0 | ||
| Provision for Tax in respect of earlier years | 0 | -186 624 | ||
| Profit after Tax | 23446 217 | -24687 499 | ||
| Balance brought forward from last year | -24678 928 | 599 | ||
| Profit available for appropriation | -1232 711 | -24686 900 | ||
| APPROPRIATIONS | ||||
| (a) Interim dividends paid during the year | ||||
| (b) Proposed final dividend | 4687 000 | 0 | ||
| (c) Dividend distribution tax | 796 556 | -7 972 | ||
| (d) Transfer to General Reserve | 2344 622 | 0 | ||
| (e) Balance carried forward to Balance Sheet | -9060 889 | -24678 928 | ||
| -1232 711 | -24686 900 | |||