Reliance Insurance Company Limited (PSX:RICL)

Model N Income Statement

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

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Mar 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Premiums & Annuity Revenue	557.5	546.5	460.69	360.47	303.13	319.48
Total Interest & Dividend Income	160.49	161.91	158.19	114.48	74.69	68.85
Gain (Loss) on Sale of Investments	248.35	267.23	109.23	-34.04	3.42	23.57
Total Revenue	966.33	975.64	728.11	440.91	381.25	411.9
Revenue Growth (YoY)	21.33%	33.99%	65.14%	15.65%	-7.44%	-8.13%
Policy Benefits	143.49	152.82	139.12	93.64	64.17	76.42
Policy Acquisition & Underwriting Costs	131.37	131.74	114.12	92.89	65.45	74.32
Depreciation & Amortization	5.15	5.15	4.56	4.29	3.17	3.61
Selling, General & Administrative	236.69	224.94	202.47	172.32	168.17	170.2
Other Operating Expenses	-30.61	-29.43	-37.42	-35.38	-23.55	-34.1
Total Operating Expenses	544.2	543.32	476.51	372.52	317.02	328.94
Operating Income	422.14	432.31	251.6	68.39	64.23	82.96
Other Non Operating Income (Expenses)	0.9	-0.65	-0.18	-1.34	3.02	-0.1
EBT Excluding Unusual Items	423.04	431.67	251.42	67.05	67.25	82.86
Gain (Loss) on Sale of Assets	4.5	4.5	5.56	0.55	3.26	0.72
Pretax Income	427.54	436.17	256.99	67.6	70.51	83.58
Income Tax Expense	131.81	134.32	85.09	23.49	17.5	15.08
Net Income	295.73	301.85	171.9	44.11	53.01	68.5
Net Income to Common	295.73	301.85	171.9	44.11	53.01	68.5
Net Income Growth	15.88%	75.60%	289.71%	-16.79%	-22.61%	-3.81%
Shares Outstanding (Basic)	100	100	100	100	100	100
Shares Outstanding (Diluted)	100	100	100	100	100	100
EPS (Basic)	2.94	3.00	1.71	0.44	0.53	0.68
EPS (Diluted)	2.94	3.00	1.71	0.44	0.53	0.68
EPS Growth	15.88%	75.60%	289.71%	-16.79%	-22.61%	-3.81%
Free Cash Flow	-208.91	-159.36	-98.29	-69.79	-76.08	-62.86
Free Cash Flow Per Share	-2.08	-1.59	-0.98	-0.69	-0.76	-0.63
Dividend Per Share	-	-	0.662	0.315	0.300	-
Dividend Growth	-	-	110.05%	4.96%	-	-
Operating Margin	43.68%	44.31%	34.55%	15.51%	16.85%	20.14%
Profit Margin	30.60%	30.94%	23.61%	10.00%	13.91%	16.63%
Free Cash Flow Margin	-21.62%	-16.33%	-13.50%	-15.83%	-19.96%	-15.26%
EBITDA	437.59	447.03	264.62	80.64	74.79	95
EBITDA Margin	45.28%	45.82%	36.34%	18.29%	19.62%	23.06%
D&A For EBITDA	15.46	14.71	13.01	12.25	10.56	12.04
EBIT	422.14	432.31	251.6	68.39	64.23	82.96
EBIT Margin	43.68%	44.31%	34.55%	15.51%	16.85%	20.14%
Effective Tax Rate	30.83%	30.80%	33.11%	34.75%	24.82%	18.05%

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.