Karachi: Pak-Qatar Takaful Group, which comprises of 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 the Board meeting recently. Pak-Qatar Takaful is Pakistan’s Pioneer and largest Takaful Group operating for more than a decade with the largest Takaful branch network nationwide.
Pak-Qatar Takaful Group achieved an aggregate turnover of around PKR 8.56 Billion. The Group posted a net profit after tax of PKR 182.6 Million for the year 2020. Participant Takaful Fund generated the net consolidated surplus of PKR 113 Million.
Profit before tax of Pak-Qatar Family Takaful Limited (PQFTL) increased to PKR 208.1 Million as compared to PKR 84.1 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 PKR 19 million.
Earnings per share (EPS) of Pak-Qatar Family Takaful Limited was recorded at PKR 1.25 while PKR 0.37 for Pak-Qatar General Takaful Limited. Pak-Qatar Family Takaful Limited (PQFTL) has declared 7.5% dividend for its shareholders.
The Board appreciated the management for their efforts despite Pandemic on the impressive results of the Group.