Pak-Qatar Takaful Group, which comprises of Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited, reviewed and approved the financial statements of both the Companies for the year ended December 31, 2020, during the Board meeting recently.
The group achieved an aggregate turnover of around Rs. 8.56 billion. It posted a net profit after tax of Rs. 182.6 million for the year 2020, with profit before tax amounting to Rs. 225 million.
Participant Takaful Fund generated the net consolidated surplus of Rs. 113 million.
Profit before tax of Pak-Qatar Family Takaful Limited (PQFTL) increased to Rs. 208.1 million as compared to Rs. 84.1 million last year, a growth of 147 percent despite all challenges (economic and political) and the global pandemic caused by COVID-19.
The company has increased its balance sheet footing through impressive growth in its investments and financing portfolio. Pak-Qatar General Takaful Limited (PQGTL) posted a profit after tax of Rs. 19 million.
Earnings per share (EPS) of Pak-Qatar Family Takaful Limited was recorded at Rs. 1.25 while Rs. 0.37 for Pak-Qatar General Takaful Limited. Pak-Qatar Family Takaful Limited (PQFTL) has declared a 7.5 percent dividend for its shareholders.
The Board appreciated the management for their efforts, despite the pandemic, on the impressive results of the Group.