Green Delta Insurer’s earnings jump 243pc in Q2


FE ONLINE REPORT | Published: July 27, 2021 11:42:41 | Updated: August 05, 2021 09:49:45


Green Delta Insurer’s earnings jump 243pc in Q2

Green Delta Insurance has posted a 243 per cent growth in its second quarter (Q2) earnings for April-June, 2021, compared to the same quarter of last year thanks to higher investment income and lower net claim.

In a filing with the Dhaka Stock Exchange (DSE) on Tuesday, the insurer said its consolidated earnings per share (EPS) increased to Tk 2.23 for April-June, 2021, up by a whopping 243 per cent, from Tk 0.65 in the corresponding period.

The general insurer’s consolidated EPS for six months that ended on June 30, 2021, also rose to Tk 3.87 as against Tk 1.63 for the same period of the previous year.

The company’s consolidated net operating cash flow per share (NOCFPS) was Tk 0.95 for January-June 2021 as against Tk 1.44 for January-June 2020.

As of June 30, 2021, the non-life insurer’s consolidated net asset value (NAV) per share was Tk 65.17 and Tk 68.95 as on December 31, 2020.

The company also informed that EPS rose due to an increase in investment income and a decrease in the net claim during the period under review.

The net operating cash flow per share decreased due to the cash outflow from operating activities, said the company.

Each share of the company, which was listed on the Dhaka bourse in 1989, reached Tk 121.20 on Tuesday at 11:00 am, gaining 2.89 per cent over the previous day.

The company’s shares traded between Tk 47.30 and Tk 149.90 in the last year.

The company disbursed 24.50 per cent cash and 7.50 per cent stock dividend for the year ended on December 31, 2020. In 2019, it provided 15 per cent cash and 5.0 per cent stock dividend.

The sponsor-directors own 33.84 per cent stake in the company, while institutional investors own 13.46 per cent, foreign investors 8.0 per cent and the general public 44.70 per cent as on June 30, 2021, the DSE data show.

babulfexpress@gmail.com

Share if you like