Reliance Insurance Company Limited (PSX: RICL)

PSX: RICL Income Statement

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

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Premiums & Annuity Revenue	543.59	460.69	360.47	303.13	319.48	347.8
Total Interest & Dividend Income	185.49	158.19	114.48	74.69	68.85	67.44
Gain (Loss) on Sale of Investments	219.38	109.23	-34.04	3.42	23.57	33.09
Total Revenue	948.46	728.11	440.91	381.25	411.9	448.33
Revenue Growth (YoY)	57.71%	65.14%	15.65%	-7.44%	-8.12%	12.87%
Policy Benefits	158.33	139.12	93.64	64.17	76.42	87.21
Policy Acquisition & Underwriting Costs	135.36	114.12	92.89	65.45	74.32	78.24
Depreciation & Amortization	4.56	4.56	4.29	3.17	3.61	4.11
Selling, General & Administrative	222.41	202.47	172.32	168.17	170.2	181.79
Provision for Bad Debts	-	-	-	-	-	0.95
Other Operating Expenses	-40.91	-37.42	-35.38	-23.55	-34.1	-36.86
Total Operating Expenses	533.4	476.51	372.52	317.02	328.94	353.53
Operating Income	415.06	251.6	68.39	64.23	82.96	94.79
Other Non Operating Income (Expenses)	-2.32	-0.18	-1.34	3.02	-0.1	-
EBT Excluding Unusual Items	412.73	251.42	67.05	67.25	82.86	94.79
Gain (Loss) on Sale of Assets	5.56	5.56	0.55	3.26	0.72	1.61
Pretax Income	418.3	256.99	67.6	70.51	83.58	96.4
Income Tax Expense	93.15	85.09	23.49	17.5	15.08	25.19
Net Income	325.14	171.9	44.11	53.01	68.5	71.21
Net Income to Common	325.14	171.9	44.11	53.01	68.5	71.21
Net Income Growth	215.33%	289.71%	-16.79%	-22.61%	-3.81%	45.34%
Shares Outstanding (Basic)	67	67	67	67	67	67
Shares Outstanding (Diluted)	67	67	67	67	67	67
EPS (Basic)	4.89	2.58	0.66	0.80	1.03	1.07
EPS (Diluted)	4.89	2.58	0.66	0.80	1.03	1.07
EPS Growth	215.33%	289.71%	-16.79%	-22.61%	-3.81%	45.34%
Free Cash Flow	-197.46	-98.29	-69.79	-76.08	-62.86	-50.95
Free Cash Flow Per Share	-2.97	-1.48	-1.05	-1.14	-0.94	-0.77
Dividend Per Share	1.000	1.000	0.476	0.454	-	-
Dividend Growth	110.00%	110.00%	5.01%	-	-	-
Operating Margin	43.76%	34.56%	15.51%	16.85%	20.14%	21.14%
Profit Margin	34.28%	23.61%	10.00%	13.90%	16.63%	15.88%
Free Cash Flow Margin	-20.82%	-13.50%	-15.83%	-19.96%	-15.26%	-11.37%
EBITDA	429	264.62	80.64	74.79	95	108.48
EBITDA Margin	45.23%	36.34%	18.29%	19.62%	23.06%	24.20%
D&A For EBITDA	13.94	13.01	12.25	10.56	12.04	13.69
EBIT	415.06	251.6	68.39	64.23	82.96	94.79
EBIT Margin	43.76%	34.56%	15.51%	16.85%	20.14%	21.14%
Effective Tax Rate	22.27%	33.11%	34.75%	24.82%	18.04%	26.13%

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