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Owing to an overwhelming increase in insurance claims, Green Delta Insurance Company reported a 58 per cent year-on-year fall in profit in the first quarter of the year 2023.
The insurer posted a net profit of Tk 7.14 crore in the January-March quarter of 2023, against the profit of Tk 17.83 crore in the same quarter last year.
In a filing with the Dhaka Stock Exchange (DSE) on Monday, the listed company said its consolidated earnings per share (EPS) for the January-March 2023 was Tk 0.74 against Tk 1.78 for the same period of 2022. Its consolidated net operating cash flow per share dropped to Tk 0.02 for the first quarter of 2023 from Tk 0.67 for the Q1 of the last year.
The insurer’s net asset value (NAV) per share was Tk 69.94 as on March 31 this year which was Tk 68.96 till December 31, 2022.
Green Delta Insurance shares remained at the floor price of Tk 65.10 per share on the DSE trading floor on Monday.
The board of directors of Green Delta Insurance Company recommended a 25 per cent cash dividend for its shareholders for the year ended on December 31, 2022.
