Eastland Insurance makes higher profit in Q1

Eastland Insurance Company Ltd made a Tk 3.1 crore profit in the first quarter of the current financial year, up about 5.5 per cent compared to a year earlier.

The insurer reported a Tk 2.94 crore profit in the identical January-March quarter in 2022.

Thus, the earnings per share rose to Tk 0.37 in January-March from Tk 0.35 in the same period of 2022, according to the unaudited financial statements.

The net operating cash flow per share improved to Tk 0.16 in January-March of 2023 against Tk 0.14 a year ago.

The net asset value per share stood at Tk 21.56 on March 31 this year, up from Tk 21.19 on the same day last year.

Shares of Eastland Insurance surged 9.92 per cent to Tk 27.70 on the Dhaka Stock Exchange yesterday.