Stocks
Delta Life Insurance Discloses Reports of Q1, Q2 & Q3
One of the listed companies, Delta Life Insurance Company Limited, discloses its financial reports for the first quarter, second quarter. This source is known from DSE.
Q1: The company’s consolidated life revenue account for January to March 2022 shows significant growth and increased activity in its life insurance segment.
As of March 31, 2022, the balance of the Life Insurance Fund stood at 39,447.09 million taka. This marks an increase from 38,669.99 million taka recorded on March 31, 2021, resulting in a net growth of 777.10 million taka over the year.
The company also reported a substantial rise in net premium income for the first quarter of 2022. Net premiums collected from January to March 2022 amounted to 1,534.55 million taka, compared to 1,277.77 million taka during the same period in 2021.
However, the company experienced a rise in total expenses for the first quarter of 2022. Expenses reached 2,624.33 million taka, up from 2,137.90 million taka during the same period in 2021.
Q2: According to the company’s consolidated life revenue account for the half year ending June 30, 2022, the Life Insurance Fund grew significantly. The balance of the fund was 39,757.84 million taka as of June 30, 2022, compared to 38,752.46 million taka on March 31, 2021, resulting in a net increase of 1,005.38 million taka.
Net premiums collected from April to June 2022 were 2,042.16 million taka, up from 1,549.95 million taka during the same period in 2021, showing a healthy increase in premium income.
Total expenses for April to June 2022 were 2,523.06 million taka, compared to 2,282.25 million taka during the same period in 2021. This rise in expenses reflects the company’s expanded operations and investments.
Q3: According to the company’s consolidated life revenue account for the third quarter ending September 30, 2022, the Life Insurance Fund showed significant growth. The balance was 39,908.687 million taka as of September 30, 2022, compared to 38,745.166 million taka on September 30, 2021, marking a net increase of 1,163.521 million taka.
Net premiums collected during July-September 2022 were 1,751.352 million taka, up from 1,665.650 million taka in the same period in 2021, indicating an increase in premium income.
Total expenses for July-September 2022 were 2,289.415 million taka, down from 2,493.825 million taka during the same period in 2021. This decrease in expenses reflects improved cost management.
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
The Bangladesh Securities and Exchange Commission (BSEC) has removed three audit firms from its panel for their failure to secure enlistment with the Financial Reporting Council (FRC), according to a notice issued today.
The firms—A Hoque & Company, FAMES & R, and SK Barua & Company Chartered Accountants—were delisted following the FRC’s request. In December last year, the FRC published a list of enlisted audit firms and subsequently, in February, requested the BSEC to remove any firms that were not included on that list.
BSEC regulations mandate that financial statements signed by auditors outside its approved panel will not be accepted. With the removal of these three firms, the total number of audit firms on the BSEC panel has been reduced from 48 to 45.
Sources from the FRC revealed that 15-20 audit firms failed to secure enlistment last year, and approximately 45 chartered accountants are currently under restrictions imposed by the Institute of Chartered Accountants.
Although the delisted firms can no longer audit issuer companies or listed securities, they are allowed to complete audit and assurance services that were initiated before their removal, the BSEC clarified.
