Dubai – Mubasher: Islamic Arab Insurance Company (Salama) logged net profits amounting to AED 30.41 million in the first nine months (9M) of 2024, down year-on-year (YoY) from AED 18.56 million.
Takaful revenue amounted to AED 802.83 as of 30 September 2024, marking an annual decline from AED 824.34 million, according to the unaudited financial results.
Basic and diluted earnings per share (EPS) retreated to AED 0.021 in 9M-24 from AED 0.001 in 9M-23.
Income Statements for Q3-24
During the third quarter (Q3) of 2024, the DFM-listed company posted net profits valued at AED 9.87 million, higher than AED 6.30 million in the year-ago period.
The takaful revenue dropped to AED 274.24 million in Q3-24 from AED 280.16 million in Q3-23, while the basic and diluted EPS plummeted to AED 0.010 from AED 0.001.
In the first half (H1) of 2024, Salama posted 67% YoY higher net profits at AED 20.53 million, compared to AED 12.26 million.
