KARACHI: Pak-Qatar Takaful Group, which comprises Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited, reviewed and approved the financial statements of both the companies for the year ended December 31, 2020 during a board meeting recently.
Pak-Qatar Takaful is Pakistan’s pioneering and largest Takaful group operating for more than a decade with the largest Takaful branch network nationwide.
The Pak-Qatar Takaful Group achieved an aggregate turnover of around Rs8.56 billion.
The group posted a net profit after tax of Rs182.6 million for the year 2020. Participant Takaful Fund generated the net consolidated surplus of Rs113 million.
Profit before tax of Pak-Qatar Family Takaful Limited (PQFTL) increased to Rs208.1 million as compared to Rs84.1 million last year, a growth of 147% despite all challenges (economic and political) and the global pandemic caused by COVID-19.
The company has increased its balance sheet footing through impressive growth in its investments and financing portfolio. Pak-Qatar General Takaful Limited (PQGTL) posted the profit after tax of Rs19 million.
Earnings per share of Pak-Qatar Family Takaful Limited was recorded at Rs1.25 while Rs0.37 for Pak-Qatar General Takaful Limited.
The Pak-Qatar Family Takaful Limited (PQFTL) has declared 7.5% dividend for its shareholders.
The board appreciated the management for its efforts despite the pandemic on the impressive results of the group.