| PROFIT AND LOSS ACCOUNT |
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| FOR
THE SIX MONTH PERIOD ENDED JUNE 30, 2003 |
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| (UNAUDITED) |
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......………...Six months period ended June
30, 2003………….. |
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Six months |
Quarter Ended June
30 |
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Marine |
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period ended |
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Fire and
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Aviation and
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2003
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30-Jun-02
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2003
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2002
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Property
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Transport
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Motor
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Others
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Aggregate
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Aggregate
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Aggregate
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Aggregate
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| Rvenue
Account |
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| Net
Premium Revenue |
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8,089 |
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20,355 |
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40,937 |
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4,501 |
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73,882 |
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60,286 |
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39,327 |
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19,492 |
| Administrative
Surcharge Recovered |
242 |
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567 |
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1,151 |
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99 |
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2,059 |
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1,616 |
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998 |
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947 |
| Total
Revenue |
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8,331 |
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20,922 |
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42,088 |
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4,600 |
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75,941 |
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61,902 |
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40,325 |
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20,439 |
| Net Claims |
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-2043 |
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-3,737 |
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-17,348 |
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-1780 |
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-24,908 |
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-15,461 |
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-16,573 |
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-9,118 |
| Expenses |
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-7,670 |
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-4,483 |
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-6,294 |
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-1051 |
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-19,498 |
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-16,961 |
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-10,108 |
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-9,439 |
| Net
Commission |
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20,681 |
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6,870 |
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-2,848 |
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1352 |
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26,055 |
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24,559 |
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8,898 |
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2,246 |
| Underwriting
result |
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19,299 |
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19,572 |
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15,598 |
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3,121 |
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57,590 |
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54,039 |
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22,542 |
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4,128 |
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| Investment Income |
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- |
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- |
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- |
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107,468 |
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107,468 |
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79,256 |
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29,703 |
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66,325 |
| Other
Income |
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- |
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- |
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- |
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660 |
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660 |
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314 |
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660 |
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-3,875 |
| Mark-up
/ finance charges |
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- |
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- |
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- |
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-2,466 |
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-2,466 |
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-4,017 |
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-1,098 |
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-684 |
| General
and administration charger |
- |
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- |
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- |
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-10,523 |
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-10,523 |
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-7,276 |
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-6,505 |
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-4,501 |
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- |
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- |
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- |
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95,139 |
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95,139 |
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68,277 |
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22,760 |
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57,265 |
| Profit
before tax |
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19,299 |
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19,572 |
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15,598 |
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98,260 |
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152,729 |
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122,316 |
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45,302 |
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61,393 |
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| Provision
for taxation |
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- |
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- |
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- |
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12,700 |
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12,700 |
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19,700 |
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19,700 |
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19,700 |
| Profit
after tax |
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19,299 |
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19,572 |
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15,598 |
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75,960 |
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130,429 |
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101,660 |
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35,702 |
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60,437 |
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| Profit
and Loss appropriation account |
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| Balance
at the commencement of the period |
- |
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- |
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- |
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- |
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7868 |
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12,322 |
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102,595 |
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53,545 |
| Profit
after tax |
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- |
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- |
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- |
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- |
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130,429 |
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101,660 |
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35,702 |
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60,437 |
| Balance unappropriated
profit at the end of |
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period |
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-
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-
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-
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-
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138,297 |
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113,982 |
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138,297 |
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113,982 |
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| Basic
earnings per share (Rupees) |
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10.62 |
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8.28 |
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2.91 |
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4.92 |
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