Northern Islami Insurance Limited (DSE: NORTHRNINS)

Northern Islami Insurance Income Statement

Financials in millions BDT. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	561.35	563.18	688.98	571.19	564.05	376.78
Total Interest & Dividend Income	66.67	60.7	45.1	42.17	37.95	28.04
Gain (Loss) on Sale of Investments	0.01	0.01	-0.01	0.04	0.05	-
Other Revenue	72.01	71.77	90.58	81.81	100.36	72.25
Total Revenue	700.04	695.67	824.65	695.21	702.41	477.08
Revenue Growth (YoY)	-8.58%	-15.64%	18.62%	-1.02%	47.23%	48.83%
Policy Benefits	144.86	142.03	246.33	235.47	155.8	129.08
Policy Acquisition & Underwriting Costs	128.36	135.09	150.61	61.57	137.46	71.4
Depreciation & Amortization	19.05	19.05	18.74	14.41	15.53	15.82
Selling, General & Administrative	282.36	297.17	316.05	294.01	304.61	166.33
Other Operating Expenses	1.28	1.28	0.71	0.85	0.87	0.8
Total Operating Expenses	575.91	594.62	732.44	606.31	614.28	383.42
Operating Income	124.13	101.05	92.21	88.9	88.13	93.65
Other Non Operating Income (Expenses)	-1.59	-1.59	-1.94	-1.4	-0.97	-0.64
EBT Excluding Unusual Items	122.53	99.45	90.27	87.5	87.17	93.02
Gain (Loss) on Sale of Assets	-	-	-0.19	0.71	-	-
Other Unusual Items	-	-	-	-	1.51	-
Pretax Income	122.53	99.45	90.07	88.21	88.68	93.02
Income Tax Expense	20.79	21.53	13.33	13.14	14.38	19.49
Net Income	101.74	77.92	76.75	75.07	74.3	73.53
Net Income to Common	101.74	77.92	76.75	75.07	74.3	73.53
Net Income Growth	91.67%	1.53%	2.23%	1.04%	1.05%	4.31%
Shares Outstanding (Basic)	43	43	43	43	43	43
Shares Outstanding (Diluted)	43	43	43	43	43	43
EPS (Basic)	2.38	1.83	1.80	1.76	1.74	1.72
EPS (Diluted)	2.38	1.83	1.80	1.76	1.74	1.72
EPS Growth	91.67%	1.53%	2.23%	1.04%	1.05%	4.31%
Free Cash Flow	250.17	249.71	245.99	152.02	274.25	134.13
Free Cash Flow Per Share	5.86	5.85	5.77	3.56	6.43	3.14
Dividend Per Share	1.000	1.000	1.000	1.000	1.000	1.000
Operating Margin	17.73%	14.52%	11.18%	12.79%	12.55%	19.63%
Profit Margin	14.53%	11.20%	9.31%	10.80%	10.58%	15.41%
Free Cash Flow Margin	35.74%	35.90%	29.83%	21.87%	39.04%	28.12%
EBITDA	142.91	120.01	108.58	103.27	103.6	109.43
EBITDA Margin	20.41%	17.25%	13.17%	14.85%	14.75%	22.94%
D&A For EBITDA	18.78	18.97	16.38	14.37	15.47	15.78
EBIT	124.13	101.05	92.21	88.9	88.13	93.65
EBIT Margin	17.73%	14.52%	11.18%	12.79%	12.55%	19.63%
Effective Tax Rate	16.97%	21.65%	14.80%	14.89%	16.21%	20.96%

Source: S&P Capital IQ. Insurance template. Financial Sources.