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P & L - Consolidated Financial Statement 2016-17

GENERAL INSURANCE CORPORATION OF INDIA
Registration No. 112
Date of Registration with IRDAI : 2nd April, 2001
CONSOLIDATED PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH 2017
  Particulars Schedule Current Year Previous Year
      (` '000) (` '000)
1. Operating Profit/-Loss      
  (a) Fire Insurance   6,876,758 7,490,694
  (b) Marine Insurance   3,854,397 4,582,460
  (c) Miscellaneous Insurance   16,360,994 3,800,651
  (d) Life Insurance   (1,094,710) 702,801
2. Income from Investments      
  (a) Interest, Dividend & Rent - Gross   9,545,328 8,317,204
  (b) Profit on sale of Investments   5,784,575 5,087,417
  Less: Loss of sale of Investment   - -
3. Other Income:      
  Forex Gain/( Loss)   11 777,981
  Profit on sale of Assets (Net)   - -
  Sundry Balances Written Back (Net)   - -
  Interest on Income-tax Refund   166,816 -
  (Provision) / Doubtful Debts written back   - 1,573,298
  Miscellaneous Receipts   14,381 23,340
  Total (A)   41,508,550 32,355,846
4. Provision for Doubtful Loans & Investment   293,993 420,091
5 (Provision) for Doubtful Debts written back   2,305,578 -
6 Amortisation of premium on Investments   185,152 185,605
7 Diminution in the value of investments written off   556,439 1,359,916
8 Other Expenses :      
  Expenses relating to Investments   17,318 13,752
  Loss on Exchange     229,905 -
  (Profit)/Loss on sale of Assets (Net)   2,223 223
  Sundry Balances Written off (Net)   - -
  Interest & Others   56,293 7,519
  Corporate Social Responsibility Expenses   160,272 490,936
  Total (B)   3,807,173 2,478,042
  Profit Before Tax   37,701,377 29,877,804
  Provision for Taxation :      
  Current Tax   6,620,000 5,123,792
  Wealth Tax   - -
  MAT Credit   (1,442,537) (1,884,959)
  Deferred Tax   (109,196) 150,425
  Provision for Tax in respect of earlier years   (224,937) (101,341)
  MAT Credit of earlier year   119,319 (2,205,632)
  Profit After Tax   32,738,728 28,795,519
  Share of Profit in Asoociates Companies   3,977,124 1,373,349
  Profit for the year   36,715,852 30,168,868
  Appropriations      
  (a) Balance brought forward from last year   12,179,002 10,493,923
  (b) Interim dividend   - -
  (c) Proposed Final dividend   - 8,600,000
  (d) Dividend distribution tax   - 1,750,788
  (e) Transfer to General Reserve   - 18,133,000
  Balance carried forward to Balance Sheet   48,894,858 12,179,002
  Basic and Diluted EPS   8.54 7.02