Ceylinco Insurance PAT at Rs.367 million
View(s):Ceylinco Insurance has recorded marginal decreases in consolidated profits for the first quarter of this year from Rs.391 million in 2013 to Rs.367 million this year, the company stated releasing its interim financial report for 2014.
Profit before tax was recorded at 404 million this year a drop by 10 per cent compared to Rs.447 million recorded for the same period in 2013.
Net income for the period was recorded at having gained by 7 per cent up at Rs.7.7 billion this year as against Rs.7.2 billion in 2013.
Company profits recorded a marginal decline of two per cent to Rs.118 million in the first three months of 2014 from last year’s Rs.121 million.
Ceylinco Insurance also was found to have made gains in the first quarter, in its provisional industry segment data issued for this year, in the Life Insurance sector and through its foreign operations in Male compared to last year.
During the period Life Insurance profits in 2014 were up at Rs.24 million compared to Rs.13 million made last year and foreign operations in Male were up at Rs.40 million from Rs.15 million in 2013, the company reported in a filing to the stock exchange.On the other hand the Non-Life Insurance sector had dropped from Rs.108 million to Rs.94 million this year; Healthcare was down at Rs.7 million from the previous Rs.9 million; Power Generation dipped to Rs.27 million from Rs.63 million and other operations dropped to Rs.60 million from Rs.68 million in 2013. In this respect the industry segment data recorded a total profit for the period at Rs.367 million from the previous year’s Rs.390 million.