Annual Rep. 2008-09.pmd - The New India Assurance Co. Ltd.

efo v³et Fefv[³ee SM³eesjvme kebÀ. efue.The New India Assurance Co. Ltd.Estbd. 1919Profit & Loss AccountProfit and Loss Account for the year ended 31st March, 2009[Registration No.190, Renewal Date 13.03.2009]Particulars Schedule Current year Previous yearRs (000) Rs (000)1. Operating profit/loss (-)a. Fire insurance - 595368 2833635b. Marine insurance - (900917) 76589c. Miscellaneous insurance (4723237) 21835282. Income from investmentsa. Interest dividend and rent (gross) - shareholders 5426859 4986562b. Profit on sale of investment - shareholders - 2027342 4925637Less: Loss on sale of investment - shareholders - 0 03. Other income misc receipts - credit balances written back 497838 210201Total (A)=1+2+3 2923253 152161524. Provisions(other than taxation)a. Others - amortisation, provision for thinly tradedshares - shareholders - 47638 49255b. For doubtful debts - investments(shareholders) - (74422) (42582)c. For dimunition in value of investments (shareholders) - (17505) (2989)5. Other expenses(other than those related to insurance business)a. Others - interest on income/service tax - 48 72b. Profit/loss (-) on sale of assets (4970) (2674)c. Penalty for breach of tariff 200 500Total (B)=(4+5) (49011) 1582Profit before tax (A-B) - 2972264 15214570Provision for taxation - current tax - 690665 917923fringe benefit tax 405000 155000deferred tax (131491) 304037earlier years tax 106536 (178454)wealth tax 5100 4783MAT Credit entitlement (345000) 0Profit after tax 2241454 14011281Appropriationsa. Proposed final dividend - 450000 2830000b. Dividend distribution tax - 76478 480959c. Contingency Reserves for Unexpired Risks(refer note number 17 to notes to accounts in Schedule 16 B) 449500 0d. Transfer to general reserves 1265476 10700322Profit/loss (-) carried forward to the balance sheet - 0 0Basic and diluted earnings per share (Rs.){Refer Note 11 B to notes to accounts in Schedule 16 B} 11.21 70.06Significant accounting policies and notes to accounts 16The Schedules referred to above form integral part of the Profit and Loss AccountA. R. Sekar M. Razzack B. ChakrabartiDirector and Company Secretary Director Chairman-Cum-Managing DirectorAs per our report of even dateFor SARDA & PAREEK For KARNAVAT & CO. For CHATURVEDI & SHAHChartered Accountants Chartered Accountants Charterted AccountantsNiranjan Joshi Shashikant Gupta H. P. ChaturvediPartner Partner PartnerMembership number 102789 Membership number 45629 Membership number 33523MumbaiJune 25, 200950