| FORM NL-2-B-PL |
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| Name of the
Insurer: GENERAL INSURANCE CORPORATION OF INDIA |
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| Registration
No. 112 |
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| Date
of Registration with the IRDAI : 2nd April, 2001 |
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| PROFIT AND
LOSS ACCOUNT FOR THE HALF YEAR ENDED 30.09.2018 |
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( ` IN 000) |
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PARTICULARS |
SCHEDULE |
For
the Three Months ending 30.09.2018 |
Up
to the Six Months
ending 30.09.2018 |
For the
corresponding Three months of the
preceeding year |
Up to the
corresponding Six months of the prceeding year |
| 1 |
OPERATING
PROFIT/(LOSS) |
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(a) Fire Insurance |
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-4444 683 |
-4978 540 |
-7255 363 |
-6163 747 |
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(b) Marine
Insurance |
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666 831 |
1469 895 |
3016 854 |
5258 314 |
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(c
) Miscellaneous Insurance |
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-355 105 |
6,761,698 |
20944 148 |
18891 104 |
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(d) Life Insurance |
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190 446 |
36 926 |
404 763 |
665 615 |
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| 2 |
INCOME FROM INVESTMENTS |
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(a) Interest, Dividend & Rent – Gross |
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3152 788 |
5279 483 |
2457 867 |
4915 317 |
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(b) Profit on sale of investments |
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2483 395 |
3267 837 |
474 658 |
1517 603 |
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Less:
Loss on sale of investments |
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| 3 |
OTHER INCOME (To be
specified) |
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Foreign gain/(loss) |
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912 923 |
1648 720 |
85 122 |
85 122 |
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Profit on sale of Assets
(Net) |
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- 7 |
0 |
- 2 |
0 |
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Sundry Balances Written Back (Net) |
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0 |
0 |
0 |
0 |
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Interest on Income-tax
Refund |
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0 |
0 |
0 |
0 |
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(Provision) / Doubtful
Loans & Investment |
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-83 000 |
0 |
0 |
0 |
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Motor Pool Service
Charges |
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0 |
0 |
0 |
0 |
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Miscellaneous Receipts |
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24 556 |
32 757 |
1 329 |
2 416 |
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TOTAL (A) |
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2548 144 |
13518 776 |
20129 376 |
25171 744 |
| 4 |
Provision for Doubtful Loans & Investment |
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858 574 |
858 574 |
822 043 |
1543 989 |
| 5 |
Provision /(written off) for Doubtful Debts |
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-99 747 |
477 614 |
107 338 |
354 156 |
| 6 |
Amortisation of premium on Investments |
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76 532 |
155 979 |
59 806 |
111 554 |
| 7 |
Diminution in the value of investments written off |
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0 |
0 |
0 |
0 |
| 8 |
OTHER EXPENSES |
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Expenses relating to
Investments |
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4 451 |
6 477 |
2 268 |
4 106 |
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Foreox loss/(gain) |
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0 |
0 |
-90 396 |
0 |
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(profit)/Loss on sale of Assets (Net) |
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230 |
230 |
21 |
21 |
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Interest & others |
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13 |
7 132 |
11 996 |
12 000 |
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Corporate Social Responsibility |
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9 185 |
16 419 |
865 |
15 988 |
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IPO expenses |
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0 |
0 |
38 458 |
39 250 |
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TOTAL (B) |
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849 238 |
1522 425 |
952 399 |
2081 064 |
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Profit
Before
Tax |
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1698 906 |
11996 351 |
19176 977 |
23090 680 |
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Provision for Taxation : |
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Current Tax |
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-585 000 |
1995 000 |
4,238,692 |
4998 692 |
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Wealth Tax |
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0 |
0 |
0 |
0 |
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MAT Credit |
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-1993 660 |
-1993 660 |
749,114 |
0 |
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Deferred Tax |
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-860 861 |
-857 651 |
(1
250) |
496 |
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Fringe Benefit Tax |
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0 |
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0 |
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Provision for Tax in respect of earlier years |
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0 |
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0 |
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MAT Credit of earlier year |
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0 |
0 |
( 755) |
- 755 |
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Profit after Tax |
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5138 427 |
12852 662 |
14191 176 |
18092 247 |
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Balance
brought forward from last year |
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0 |
32336 730 |
0 |
31277 556 |
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Profit
available for appropriation |
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5138 427 |
45189 392 |
14191 176 |
49369 803 |
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APPROPRIATIONS |
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(a) Interim
dividends paid during the year |
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0 |
0 |
0 |
0 |
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(b)
Final dividend |
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11842 200 |
11842 200 |
10,020,000 |
10020 000 |
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(c) Dividend
distribution tax |
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2434 283 |
2434 283 |
2,039,872 |
2039 872 |
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(d) Transfer
to General Reserve |
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-40050 965 |
0 |
(15961
827) |
19216 800 |
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(e) Balance carried forward to Balance
Sheet |
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30912 910 |
30912 910 |
18,093,131 |
18093 131 |
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5138 427 |
45189 393 |
14191 176 |
49369 803 |
| Notes: to
Form NL-1-B-RA and NL-2-B- PL |
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| (a) Premium income received from business concluded in and
outside India shall be separately disclosed. |
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| (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. |
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| (f) Under the sub-head "Others” shall be included items
like foreign exchange gains or losses and other items. |
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| (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. |
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