Company | Group | |||
For the year ended 31 March | 2019 USD ’000 |
2018 USD ’000 |
2019 USD ’000 |
2018 USD ’000 |
Gross income | 185,861 | 183,670 | 217,771 | 212,834 |
Interest income | 175,077 | 171,480 | 183,014 | 177,115 |
Less: Interest expenses | 88,833 | 93,111 | 90,225 | 93,923 |
Net interest income | 86,244 | 78,369 | 92,789 | 83,192 |
Net earned premiums | – | – | 26,847 | 26,028 |
Fee and commission income | 8,567 | 8,851 | 5,702 | 5,264 |
Net trading income | (158) | 122 | (252) | 385 |
Other operating income | 2,375 | 3,217 | 2,460 | 4,042 |
Total operating income | 97,028 | 90,559 | 127,546 | 118,911 |
Less: Impairment charges for loans and receivables and other losses | 9,008 | 9,182 | 9,699 | 9,440 |
Impairment charges for investment in associate | 1,980 | – | 866 | – |
Impairment charges for goodwill | 111 | – | 111 | – |
Net operating income | 85,929 | 81,377 | 116,870 | 109,471 |
Less: | ||||
Personnel expenses | 19,521 | 19,099 | 23,656 | 21,779 |
Depreciation and amortisation | 1,020 | 1,236 | 1,717 | 1,889 |
Benefits, claims and underwriting expenditure | – | – | 18,899 | 17,827 |
Other operating expenses | 16,150 | 15,643 | 17,308 | 16,332 |
Total operating expenses | 36,691 | 35,978 | 61,580 | 57,827 |
Operating profit before taxes on financial services | 49,238 | 45,399 | 55,290 | 51,644 |
Less: Tax on financial services | 11,850 | 8,349 | 12,025 | 8,521 |
Operating profit after taxes on financial services | 37,388 | 37,050 | 43,265 | 43,123 |
Share of profit/(loss) of the associate (net of tax) | – | – | (189) | (340) |
Profit before income tax expense | 37,388 | 37,050 | 43,076 | 42,783 |
Less: Income tax expense | 12,315 | 9,378 | 14,624 | 10,562 |
Profit for the year | 25,073 | 27,672 | 28,452 | 32,221 |
Exchange rate of USD was Rs. 176.13 as at 31 March 2019 (Rs. 155.73 as at 31 March 2018).
The above Statement of Profit or Loss is solely for the convenience of stakeholders (shareholders, investors, bankers and other users of Financial Statements) and do not form part of the Financial Statements.