10 Supplementary reports

Statement of Profit or Loss in USD

	Company		Group
For the year ended 31 March	2019 USD ’000	2018 USD ’000	2019 USD ’000	2018 USD ’000
Gross income	185,861	183,670	217,771	212,834
Interest income	175,077	171,480	183,014	177,115
Less: Interest expenses	88,833	93,111	90,225	93,923
Net interest income	86,244	78,369	92,789	83,192
Net earned premiums	–	–	26,847	26,028
Fee and commission income	8,567	8,851	5,702	5,264
Net trading income	(158)	122	(252)	385
Other operating income	2,375	3,217	2,460	4,042
Total operating income	97,028	90,559	127,546	118,911
Less: Impairment charges for loans and receivables and other losses	9,008	9,182	9,699	9,440
Impairment charges for investment in associate	1,980	–	866	–
Impairment charges for goodwill	111	–	111	–
Net operating income	85,929	81,377	116,870	109,471
Less:
Personnel expenses	19,521	19,099	23,656	21,779
Depreciation and amortisation	1,020	1,236	1,717	1,889
Benefits, claims and underwriting expenditure	–	–	18,899	17,827
Other operating expenses	16,150	15,643	17,308	16,332
Total operating expenses	36,691	35,978	61,580	57,827
Operating profit before taxes on financial services	49,238	45,399	55,290	51,644
Less: Tax on financial services	11,850	8,349	12,025	8,521
Operating profit after taxes on financial services	37,388	37,050	43,265	43,123
Share of profit/(loss) of the associate (net of tax)	–	–	(189)	(340)
Profit before income tax expense	37,388	37,050	43,076	42,783
Less: Income tax expense	12,315	9,378	14,624	10,562
Profit for the year	25,073	27,672	28,452	32,221

Exchange rate of USD was Rs. 176.13 as at 31 March 2019 (Rs. 155.73 as at 31 March 2018).

The above Statement of Profit or Loss is solely for the convenience of stakeholders (shareholders, investors, bankers and other users of Financial Statements) and do not form part of the Financial Statements.