Karachi, Crescent Star Insurance Limited (CSIL) disclosed its financial results for the year ended December 31, 2023, in a recent board meeting held in Karachi. The company reported no allocation of cash dividends, bonus shares, right issues, or any other entitlements or corporate actions deemed price sensitive for the reported period.

The firm’s net insurance premium for the year was substantial, with the statement of comprehensive income highlighting a total figure of 277,821,497 Rupees. Despite challenges, CSIL managed a positive underwriting result of 650,500 Rupees and an investment income of 21,153,198 Rupees. Additional earnings from other sources were tallied at 22,837,645 Rupees, contributing to the company’s operating results.

The profit after tax for CSIL reflected a significant figure of 68,103,151 Rupees, with a total comprehensive income for the year reaching 74,236,551 Rupees. Earnings per share stood at 0.63 Rupees, marking a notable outcome for the company’s shareholders.

In parallel, the consolidated financial statement for CSIL depicted a net insurance premium at the same figure of 277,821,497 Rupees. However, the results from operating activities were reported at 21,980,440 Rupees with the profit after tax for the group documented at 53,334,077 Rupees. The comprehensive income for the year on a consolidated basis was 59,467,477 Rupees, with earnings per share calculated at 0.50 Rupees.

The annual general meeting for CSIL is scheduled for April 26, 2024, in Karachi where shareholders will have the opportunity to discuss these results and other corporate matters. The Share Transfer Books of the company will remain closed from April 20 to April 26, 2024, to facilitate the processing of transfers.