Pak-Qatar Takaful group achieves turnover of around Rs. 11 bln

Islamabad: Pak-Qatar Takaful Group, which comprises of Pak-Qatar Family Takaful Limited and Pak-Qatar General Takaful Limited had achieved an aggregate turnover of around Rs. 11 billion.

This was disclosed during a board meeting recently to review and approve the financial statements of both the companies for the year ended December 31, 2021, said a news release issued here on Thursday.

Pak-Qatar Takaful is Pakistan’s Pioneer and largest Takaful Group operating for more than a decade with the largest Takaful branch network nationwide. The Group Shareholders Fund posted a net consolidated profit after tax of Rs. 207.5 million; while, participant Takaful Fund generated the net consolidated surplus of Rs. 54.8 million for the year 2021.

Profit before tax of Pak-Qatar Family Takaful Limited (PQFTL) increased to Rs. 225 million as compared to Rs. 208 million last year, a growth of 8% despite economic and political challenges 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 a profit before tax of Rs.46 million as compared to Rs.17 million last year, a growth of 170%.

Earnings per share (EPS) of Pak-Qatar Family Takaful Limited was recorded at Rs.1.34 while Rs. 0.64 for Pak-Qatar General Takaful Limited. The Board appreciated the management for their efforts despite Pandemic on the impressive results of the Group.