It is a broadly described annual report of Nitol Insurance Company Limited in the year of 2016. The company’s liquidity remained strong to total cash inflows of Tk. 611,816,436/- against Tk. 600,622,585/- in 2015. The Total cash and cash equivalents as at the end of 2016 are Tk. 42,545,862/- against Tk. 23,838,170/- in 2015. During the year 2016, the Company earned a premium of Tk. 613,873,160 in compared to Tk. 608,325,928 of 2015. The Underwriting Profit of the company stood at Tk. 84,350,915 for the year 2016. In 2015 Underwriting Profit was Tk. 89,108,550. Company’s Profit before Tax is fixed at Tk. 105,964,470 in 2016 as against Tk. 98,171,824 in 2015. In the year 2016 Company’s Net Profit after Tax stood at Tk. 86,501,598 which calculates earnings per share Tk. 2.77 (@Tk. 10 per share) as compared to Tk. 2.63 (@M. 10 per share) on Tk. 73,403,510in the previous year 2015.
The Board of Directors in its meeting held on 10th April 2017 recommended @13% stock dividend for the year 2016. These financial statements are presented in Bangladesh Taka (Taka/Tk/BDT) which is the company’s functional currency. All financial information presented in Taka has been rounded off to the nearest Taka.
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