FORM NL-2-B-PL
Name of the Insurer:GENERAL INSURANCE CORPORATION OF INDIA
Registration No.112
Date ofRegistration with the IRDAI : 2nd April, 2001
PROFIT AND LOSS ACCOUNT FOR THE PERIOD ENDED 31.03.2017 ( ` IN 000)
PARTICULARS SCHEDULE For the  Twelve Months  ending 31.03.2017 Up to  the  Twelve Months  ending 31.03.2017 For the corresponding Twelve months  of the preceeding year  Up to the corresponding  twelve months  of the prceeding year
1 OPERATING PROFIT/(LOSS)
(a) Fire Insurance 5843 591 5328 435 10366 254 7093 990
(b)Marine Insurance (703 173) 3843 073 (87 084) 4579 345
(c )Miscellaneous Insurance 19844 466 16376 402 (5548 111) 3812 274
(d)  Life Insurance (489 575) (1086 073) 243 285 711 176
2 INCOME FROM INVESTMENTS
(a)  Interest, Dividend & Rent – Gross 2553 442 9552 386 1996 205 8411 453
(b)  Profit on sale of investments 3373 768 5777 371 2242 600 5086 412
Less: Loss on sale of investments
3 OTHER INCOME (To be specified)
Profit on Exchange (590 281) 0 (777 668) 0
Profit on sale of Assets (Net) 0 0 0 0
Sundry Balances Written Back (Net) 0 0 ( 22) 0
Interest on Income-tax Refund 0 166 816 0 0
Motor Pool Service Charges 0 0 0 0
Miscellaneous Receipts 860 5 263 5 221 11 949
TOTAL (A) 29833 098 39963 673 8440 680 29706 599
4 Provision for Doubtful Loans & Investment  (647 159) 293 993 (1274 691) 420 091
5 Provision for Doubtful  Debts 39 671 2301 651 (1578 527) -1578 527
6 Amortisation of premium on Investments 48 082 185 152 47 605 185 605
7 Diminution in the value of investments written off 556 439 556 439 1354 126 1359 916
8 OTHER EXPENSES
Expenses relating to Investments 5 040 12 776 3 403 10 752
Loss on Exchange 156 455 156 455 (754 983) (754 983)
Loss on sale of Assets (Net) 2 101 2 216 155 223
Sundry Balances Written off (Net) 0 0 0 0
Loss on Distribution of LPA Assets 0 0 0 0
Interest & others 54 904 56 165 36 7 519
Corporate Social Responsibility 10 309 160 272 89 519 490 936
TOTAL (B) 225 842 3725 119 (2113 357) 141 532
Profit Before Tax 29607 256 36238 554 10554 037 29565 067
Provision for Taxation :
Current Tax 5656 259 6620 000 1706375 5122 682
Wealth Tax 0 0 0 0
Mat Tax (1442 537) (1442 537) (1096 820) (1884 959)
Deferred Tax (109 973) (109 973) 150,425 150 425
Fringe Benefit Tax 0 0 0 0
Provision for Tax in respect of earlier years (224 937) (224 937) (109 063) (101 341)
MAT Credit of earlier year 119 319 (2205 632) (2205 632)
Profit after Tax 25728 444 31276 682 12108 752 28483 892
Balance brought forward from last year 0 874 0 769
Profit available for appropriation 25728 444 31277 556 12108 752 28484 661
APPROPRIATIONS
(a)Interim dividends paid during the year 0 0 0 0
(b)Proposed final dividend 0 0 8600000 8600 000
(c)Dividend distribution tax 0 0 1750788 1750 788
(d)Transfer to General Reserve 0 0 18133000 18133 000
(e)          Balance carried forward to Balance Sheet 25728 444 31277 556 (16375 036) 874
25728 444 31277 556 12108 752 28484 661
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 otheritems.
(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.