| 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 PERIOD ENDED 30.09.2019 |
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( ` IN
000) |
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PARTICULARS |
SCHEDULE |
For the Three
Months ending 30.09.2019 |
Up to the
Six Months ending 30.09.2019 |
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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-9418 923 |
-5167 155 |
-4444 683 |
-4978 539 |
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(b) Marine Insurance |
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-506 585 |
-114 646 |
666 831 |
1469 896 |
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(c ) Miscellaneous Insurance |
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1227 716 |
(1098 779) |
-355 106 |
6761 698 |
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(d) Life Insurance |
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-20 519 |
-294 852 |
190 446 |
36,926 |
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0 |
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0 |
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| 2 |
INCOME FROM INVESTMENTS |
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(a) Interest, Dividend
& Rent – Gross |
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2471 011 |
4791 183 |
3148 337 |
5273 006 |
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(b) Profit on sale of
investments |
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1200 440 |
2312 727 |
2483 395 |
3267 837 |
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Less: Loss on sale of
investments |
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0 |
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0 |
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| 3 |
OTHER INCOME (To be specified) |
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Foreign gain/(loss) |
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219 544 |
291 886 |
912 924 |
1648 720 |
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Profit on sale of Assets (Net) |
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- 31 |
0 |
- 7 |
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 debts written back |
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Motor Pool Service Charges |
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0 |
0 |
-83 000 |
0 |
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Miscellaneous Receipts |
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11 998 |
14 746 |
24 556 |
32 756 |
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TOTAL (A) |
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-4815 349 |
735 110 |
2543 693 |
13512 300 |
| 4 |
Provision for
Doubtful Loans & Investment |
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1619 078 |
5050 521 |
858 574 |
858 574 |
| 5 |
Provision
/(written off) for Doubtful Debts |
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-371 510 |
226 635 |
-99 747 |
477 614 |
| 6 |
Amortisation of
premium on Investments |
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79 191 |
153 177 |
76 532 |
155 979 |
| 7 |
Diminution in the
value of investments written off |
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0 |
0 |
0 |
0 |
| 8 |
OTHER EXPENSES |
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0 |
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0 |
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Expenses relating to Investments |
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0 |
0 |
0 |
0 |
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Forex loss/(gain) |
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0 |
0 |
1 |
1 |
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(profit)/Loss on
sale of Assets (Net) |
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27 |
27 |
230 |
230 |
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Sundry Balances
Written Off (Net) |
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440 |
440 |
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0 |
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Interest &
others |
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0 |
10 |
13 |
7 133 |
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Corporate Social
Responsibility |
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57 753 |
115 595 |
9 185 |
16 419 |
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IPO expenses |
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0 |
0 |
0 |
0 |
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TOTAL (B) |
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1384 979 |
5546405 |
844 788 |
1515 950 |
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Profit Before
Tax |
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-6200 328 |
-4811 295 |
1698 905 |
11996 350 |
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Provision for
Taxation : |
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Current Tax |
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-247 777 |
59 492 |
(585 000) |
1995 000 |
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Wealth Tax |
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0 |
0 |
0 |
0 |
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MAT Credit |
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4 749 |
0 |
(1993 660) |
-1993 660 |
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Deferred Tax |
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-2 762 |
-2 201 |
(860 860) |
-857 650 |
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Fringe Benefit Tax |
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0 |
0 |
0 |
0 |
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Provision for Tax
in respect of earlier years |
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0 |
0 |
0 |
0 |
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MAT Credit of
earlier year |
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0 |
0 |
0 |
0 |
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Profit after Tax |
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-5954 538 |
-4868586 |
5138 425 |
12852 660 |
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Balance brought
forward from last year |
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0 |
40303 305 |
0 |
32336 730 |
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Profit available
for appropriation |
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-5954 538 |
35434 719 |
5138 424 |
45189 390 |
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APPROPRIATIONS |
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0 |
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(a) Interim
dividends paid during the year |
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0 |
0 |
0 |
0 |
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(b) Proposed
final dividend |
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11842 200 |
11842 200 |
11,842,200 |
11842 200 |
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(c) Dividend
distribution tax |
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2434 282 |
2434 282 |
2,434,280 |
2434 280 |
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(d) Transfer
to General Reserve |
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0 |
0 |
0 |
0 |
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(e) Balance
carried forward to Balance Sheet |
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-20231 020 |
21158 237 |
(9138 056) |
30912 910 |
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-5954 538 |
35434 719 |
5138 424 |
45189 390 |
| 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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