Publication:
Strong financial growth and innovation define Amana Takaful Maldives's Q2 2023 performance
Abstract
In Q2 2023, Amana Takaful Maldives recorded a notable performance in its financial results. The total revenue for the quarter amounted to MVR89.97 million (US$5.79 million), showcasing a significant increase compared with the preceding quarter's figure of MVR53.59 million (US$3.45 million). The company's commitment to efficient cost management is reflected in the total expenses, which stood at MVR11.96 million (US$769,414), slightly higher than the preceding quarter's MVR10.79 million (US$694,146). One of the remarkable highlights is the substantial growth in net profit, reaching MVR10.47 million (US$673,559) in Q2, a considerable surge from the preceding quarter's net profit of MVR1.1 million (US$70,765.5). This robust performance translated to improved earnings per share of MVR0.52 (US$0.03), compared with the previous quarter's MVR0.05 (US$0.003). Amana Takaful Maldives's solid financial position is evident in the growth of net asset per share, which increased to MVR7.8 (US$0.5) from the preceding quarter's MVR6.77 (US$0.44). The cash flow per share was reported at MVR0.23 (US$0.01), showcasing a reduction compared with the previous quarter's MVR0.45 (US$0.03).
Keywords
Amana Takaful Maldives , Financial growth , Innovation
Citation
Muneeza, A. (2023). Strong financial growth and innovation define Amana Takaful Maldives s Q2 2023 performance, Islamic Finance News, 20(36), 16.
Publisher
Redmoney
DOI
Files
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