June 27, 2017 4:29 PM ET

Insurance

Company Overview of Janashakthi PLC

Company Overview

Janashakthi PLC, an investment holding company, provides life and non-life health insurance services in Sri Lanka. Its life insurance plans include healthcare, children, education, retirement/savings, life plan with investment, investment, and loan protection insurance. The company’s non-life insurance covers motor, medical, asset protection, travel, fire, engineering, marine, employee protection, and miscellaneous insurance products for individuals and businesses. It also provides finance and leasing services. Janashakthi PLC was incorporated in 1994 and is based in Colombo, Sri Lanka.

55/72, Vauxhall Lane

Colombo,  2

Sri Lanka

Founded in 1994

Phone:

94 11 213 2869

Fax:

94 11 213 2219

Key Executives for Janashakthi PLC

Chief Executive Officer and Executive Director
Executive Director
Compensation as of Fiscal Year 2016.

Janashakthi PLC Key Developments

Janashakthi plc Announces Unaudited Consolidated and Company Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016; Reports Impairment Charges for the Third Quarter Ended December 31, 2016

Janashakthi PLC announced unaudited consolidated and company earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, on consolidated basis, the company reported income of LKR 4,263,642,000 against LKR 3,393,726,000 a year ago. Net written premium was LKR 2,802,197,000 against LKR 2,250,225,000 a year ago. Profit from operations was LKR 131,142,000 against LKR 185,692,000 a year ago. Loss from ordinary activities before tax was LKR 113,886,000 against profit from ordinary activities before tax of LKR 4,506,000 a year ago. Net loss for the period was LKR 163,613,000 against LKR 3,755,000 a year ago. Net loss attributable to the equity holders of the parent was LKR 207,033,000 or LKR 20.70 per basic share against LKR 44,737,000 or LKR 4.47 per basic share a year ago. Net interest income was LKR 279,962,000 compared to LKR 343,600,000 a year ago. For the quarter, on company basis, the company reported loss from operations of LKR 111,896,000 against LKR 76,661,000 a year ago. Loss from ordinary activities before tax was LKR 346,921,000 against LKR 253,195,000 a year ago. Net loss attributable to the equity holders of the parent was LKR 348,118,000 or LKR 34.81 per basic share against LKR 255,739,000 or LKR 25.57 per basic share a year ago. Income was LKR 90,463,000 compared to LKR 59,294,000 a year ago. For nine months, on consolidated basis, the company reported income of LKR 12,922,668,000 against LKR 9,941,836,000 a year ago. Net written premium was LKR 8,256,706,000 against LKR 6,506,325,000 a year ago. Profit from operations was LKR 1,197,016,000 against LKR 856,714,000 a year ago. Profit from ordinary activities before tax was LKR 519,888,000 against LKR 896,224,000 a year ago. Net profit for the period was LKR 334,727,000 against LKR 1,128,296,000 a year ago. Net profit attributable to the equity holders of the parent was LKR 126,297,000 or LHR 12.63 per basic share against LKR 1,012,318,000 or LKR 101.23 per basic share a year ago. Cash used in operating activities was LKR 1,406,047,000 against LKR 271,365,000 a year ago. Cash used in acquisition of property, plant and equipment was LKR 669,770,000 against LKR 270,637,000 a year ago. Acquisition of intangible assets was LKR 17,182,000 against LKR 16,438,000 a year ago. Net interest income was LKR 870,957,000 compared to LKR 895,594,000 a year ago. For nine months, on company basis, the company reported profit from operations of LKR 92,759,000 against LKR 170,044,000 a year ago. Loss from ordinary activities before tax was LKR 557,692,000 against LKR 294,493,000 a year ago. Net loss attributable to the equity holders of the parent was LKR 561,044,000 or LHR 56.10 per basic share against LKR 302,969,000 or LKR 30.30 per basic share a year ago. Net cash used in operating activities was LKR 129,492,000 against LKR 558,100,000 a year ago. Cash used in acquisition of property, plant and equipment was LKR 000 against LKR 2,200,000 a year ago. Income was LKR 146,274,000 compared to LKR 227,476,000 a year ago. For the quarter, the company reported impairment charges of loans and receivable from customers of LKR 82,432,000 against LKR 97,642,000 a year ago.

Janashakthi plc Announces Unaudited Consolidated and Company Earnings Results for the Second Quarter and Six Months Ended September 30, 2016; Reports Impairment Charges for the Second Quarter Ended September 30, 2016

Janashakthi PLC announced unaudited consolidated and company earnings results for the second quarter and six months ended September 30, 2016. For the quarter, on consolidated basis, income was LKR 4,552,858,000 against LKR 3,439,624,000 a year ago. Net written premium was LKR 2,702,851,000 against LKR 2,115,149,000 a year ago. Profit from operations was LKR 565,585,000 against LKR 404,080,000 a year ago. Profit from ordinary activities before tax was LKR 334,831,000 against LKR 749,433,000 a year ago. Net profit for the period was LKR 267,220,000 against LKR 1,019,604,000 a year ago. Net profit attributable to the equity holders of the parent was LKR 195,760,000 or LKR 19.58 per basic share against LKR 992,069,000 or LKR 99.21 per basic share a year ago. For the quarter, on company basis, income was LKR 221,567,000 against LKR 150,630,000 a year ago. Profit from operations was LKR 206,607,000 against LKR 121,318,000 a year ago. Loss from ordinary activities before tax was LKR 11,474,000 against LKR 39,762,000 a year ago. Net loss attributable to the equity holders of the parent was LKR 13,006,000 or LKR 1.30 per basic share against LKR 43,681,000 or LKR 4.37 per basic share a year ago. For the six months, on consolidated basis, income was LKR 8,659,026,000 against LKR 6,548,110,000 a year ago. Net written premium was LKR 5,454,509,000 against LKR 4,256,100,000 a year ago. Profit from operations was LKR 1,065,874,000 against LKR 671,022,000 a year ago. Profit from ordinary activities before tax was LKR 633,774,000 against LKR 880,718,000 a year ago. Net profit for the period was LKR 498,340,000 against LKR 1,121,051,000 a year ago. Net profit attributable to the equity holders of the parent was LKR 333,330,000 or LHR 33.33 per basic share against LKR 1,049,246,000 or LKR 104.92 per basic share a year ago. Cash used in operating activities was LKR 575,634,000 against cash generated from operating activities of LKR 538,180,000 a year ago. Cash used in acquisition of property, plant and equipment was LKR 565,231,000 against LKR 160,296,000 a year ago. For the six months, on company basis, income was LKR 236,737,000 against LKR 286,770,000 a year ago. Profit from operations was LKR 204,655,000 against LKR 246,705,000 a year ago. Loss from ordinary activities before tax was LKR 210,771,000 against LKR 41,298,000 a year ago. Net loss attributable to the equity holders of the parent was LKR 212,926,000 or LHR 21.29 per basic share against LKR 47,230,000 or LKR 4.72 per basic share a year ago. Net cash flow from operating activities was LKR 54,010,000 against cash used in operating activities of LKR 400,410,000 a year ago. For the quarter, the company reported impairment charges of LKR 79,059,000 against LKR 81,091,000 a year ago.

Janashakthi PLC Declares an Interim Dividend for the Financial Year Ending March 31, 2016, Payable on October 14, 2015

Janashakthi PLC board of directors has declared an interim dividend of LKR 3 per share amounting to LKR 30,000,000 for the financial year ending March 31, 2016, This dividend is not subject to tax. The date of payment of the said dividend will be October 14, 2015. It confirm that the books of the company will not be kept closed.

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