| PROFIT AND LOSS ACCOUNT |
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| FOR THE YEAR
ENDED DECEMBER 31, 2001 |
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2001 |
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2000 |
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2001 |
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2000 |
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(Rupees in
thousand) |
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(Rupees in
thousand) |
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| Provision for taxtation - Current year |
12,246 |
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21,826 |
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Dividends and
Profits on Investments |
122,726 |
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86,614 |
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| - Prior year |
-20,558 |
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3,626 |
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Less: Income-tax
thereon |
25,826 |
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30,012 |
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| Management expenses |
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96,900 |
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56,602 |
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(not applicable
to any particular fund or account) |
9,286 |
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7,532 |
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Profit
transferred from revenue accounts |
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| Director's Fees |
1 |
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3 |
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Fire insurance
business account |
21,967 |
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29,105 |
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Marine insurance
business account |
31,582 |
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25,610 |
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| Donations |
800 |
|
692 |
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Motor and
Miscellaneous insurance business account |
19,827 |
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22,167 |
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73,376 |
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76,882 |
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Profit on sale of
fixed assets |
315 |
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83 |
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| Zakat |
46 |
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21 |
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Profit on sale of
investments |
79 |
|
906 |
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| Depreciation |
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Miscellaneous
income |
109 |
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311 |
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Furniture and
fixtures, office and computer equipment |
3,193 |
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1,159 |
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Motor Vehicles |
1,296 |
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530 |
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4,489 |
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1,689 |
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| Mark-up on long term loans |
21,968 |
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10,872 |
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| Provision for diminution in value of: |
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Short term
investments |
2,396 |
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412 |
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Long term
investments |
29,534 |
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85,659 |
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31,930 |
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86,071 |
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| Balance being profit for the year |
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transferred to
profit and loss |
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Appropriation
Account |
110,571 |
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2,816 |
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170,779 |
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134,784 |
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170,779 |
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134,784 |
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| Basic earnings per share |
11.39 |
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0.29 |
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2001 |
|
2000 |
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2001 |
|
2000 |
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(Rupees in thousand) |
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(Rupees in thousand) |
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| Transferred to general reserves |
40,000 |
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- |
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Balance brought
forward from previous year |
- |
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11,593 |
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| Transferred to reserves for bonus shares |
9,708 |
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- |
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balance being net
profit for the year transferred |
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from Profit and
Loss Account |
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110,571 |
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2,816 |
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| Proposed Dividend |
48,541 |
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38,833 |
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Transferred from
general reserves |
- |
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24,424 |
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| Balance at the end of
the year |
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as shown in the
Balance Sheet |
12,322 |
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- |
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110,571 |
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38,833 |
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110,571 |
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38,833 |
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