In a recent development, Padma Islami Life Insurance Company has disclosed its second quarter financial report for the period of April to June, 2023, within the premises of the stock market. Following the conclusion of a board meeting on Wednesday, August 23rd, an unexpected financial review of the second quarter was undertaken and decisions were made.
According to sources the company had a decrease of minus Tk 246 crore 20 lakh in the life fund of the company’s second quarter. This contrasts with the previous quarter’s life fund amount of Tk 12 crore 39 lakh.
Reportedly, the decline in the life fund has brought the company’s financial management council to analyze the unforeseen economic report of the second quarter. This comes as a deviation from the company’s prior financial trajectory.
In accordance with the data available from the Dhaka Stock Exchange, Padma Islami Life Insurance Limited was listed on the stock market in 2012. Currently categorized under ‘Category B’, the company’s authorized capital stands at Tk 100 crore, with a paid-up capital of Tk 38 crore 90 lahks.
In the past year, the company’s share price peaked at an impressive Tk 64.10, marking a substantial increase.
