FORM NL-2-B-PL
Name of the Insurer:..GENERAL INSURANCE CORPORATION OF INDIA
Registration No...112
Date of..Registration with the IRDA : 2nd April, 2001
PROFIT AND LOSS ACCOUNT FOR THE HALF YEAR ENDED 31.03.2015 . . . ( Rs IN 000)
Sr. No. PARTICULARS SCHEDULE For the quarter ending 31.03.2015 Up to the quarter ending 31.03.2015 For the corresponding quarter of the preceeding year Up to the Quarter of the prceeding year
1 OPERATING PROFIT/(LOSS)
(a)  Fire Insurance 6108592 13580424 -145442 239165
(b)  Marine Insurance -2438295 -857491 962822 5102498
(c )  Miscellaneous Insurance -3022030 3189103 8967607 11403423
(d)  Life Insurance -232161 395131 132639 70868
2 INCOME FROM INVESTMENTS
(a)  Interest, Dividend & Rent – Gross 1621327 7036980 1540980 6260620
(b)  Profit on sale of investments 2088509 5249329 1232799 2868141
      Less: Loss on sale of investments
3 OTHER INCOME (To be specified)
Profit on Exchange -37027 0 -154201 935657
Profit on sale of Assets (Net) 167 167 0 0
Sundry Balances Written Back (Net) 0 0 -54696 0
Interest on Income-tax Refund 1570170 2327674 22335 54695
Motor Pool Service Charges -781 0 29886 32360
Miscellaneous Receipts 4249 9208 3167 3167
TOTAL (A) 5662720 30930525 12537896 26970594
4 Provision for Doubtful Loans & Investment  -683244 32008 -958390 484081
5 Provision for Doubtful  Debts 1075122 1075122 611947 764767
6 Amortisation of premium on Investments 42872 181025 190879 200694
7 Diminution in the value of investments written off 588077 588077 1111486 1111486
8 OTHER EXPENSES 0 0
  Expenses relating to Investments 3308 9329 2272 6574
  Loss on Exchange 275131 275131 -45 0
  Loss on sale of Assets (Net) -62 0 232 232
  Sundry Balances Written off (Net) 0 0 -1050809 0
  Loss on Distribution of LPA Assets 0 0 0 0
  Interest on Service Tax 7157 318005 1368396 1368396
  Corporate Social Responsibility 158281 179481 0 0
TOTAL (B) 1466642 2658178 1275968 3936230
  Profit Before Tax                                  4196078 28272347 11261928 23034364
  Provision for Taxation :
  Current Tax 410000 5070000 0 4130000
  Wealth Tax 4100 11359 1958830 4183
  Mat Tax -3653300 -3653300 4498 -3634844
  Deferred Tax -107630 -107630 -1839757 3280
  Fringe Benefit Tax 0 0 0 0
  Provision for Tax in respect of earlier years 14713 14713 0 0
  Profit after Tax 7528195 26937205 11138357 22531745
  Balance brought forward from last year 0 896 0 -9060889
  Profit available for appropriation 7528195 26938101 11138357 13470856
APPROPRIATIONS
(a)                 Interim dividends paid during the year 0 0 0 1182500
(b)                 Proposed final dividend 5400000 5400000 3110034 3311000
(c)                 Dividend distribution tax 1099332 1099332 763670 763670
(d)                 Transfer to General Reserve 20438000 20438000 8212790 8212790
(e)          Balance carried forward to Balance Sheet -19409139 769 -951415 896
7528193 26938101 11135079 13470856
Notes:  to Form NL-1-B-RA and NL-2-B- PL
(a) Premium income received from business concluded in and outside India shall be separately disclosed.
(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.
(f) Under the sub-head "Others” shall be included items like foreign exchange gains or losses and other  items.
(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.