⚡ Flash Summary

TPL Insurance Limited’s financial results for the quarter ended September 30, 2025, indicate a mixed performance. The company reported underwriting results of PKR 40.27 million, a notable improvement compared to PKR 5.43 million in the same period last year. However, the company experienced a profit/(loss) before taxation of negative PKR 9.11 million for the current quarter, against a profit of PKR 45.01 million last year. No cash dividend, bonus shares, or right shares were recommended by the board.

📌 Key Takeaways

• Underwriting results improved significantly to PKR 40.27 million from PKR 5.43 million 📈.
• Net insurance premium increased to PKR 1,138.23 million from PKR 882.61 million 💰.
• Insurance claims expense increased to PKR 564.94 million from PKR 427.49 million 📉.
• Management expenses increased to PKR 425.38 million from PKR 363.25 million 📊.
• Investment income decreased to PKR 48.23 million from PKR 70.44 million 📉.
• Other expenses decreased to PKR 80.61 million from PKR 85.82 million ✅.
• Financial charges decreased to PKR 4.20 million from PKR 8.76 million ✅.
• Profit/(loss) before tax decreased to negative PKR 9.11 million from PKR 45.01 million 📉.
• Profit/(loss) after taxation increased to PKR 0.58 million from negative PKR 9.67 million ✅.
• Total assets increased to PKR 8,552.87 million from PKR 7,939.00 million 📈.
• Total equity decreased to PKR 2,716.54 million from PKR 2,750.56 million 📉.
• No cash dividend was declared for the period ❌.
• Basic EPS is PKR 0.00 vs. (0.05) last year.

🎯 Investment Thesis

HOLD. The company shows some signs of improvement in underwriting, but inconsistent profitability raises concerns. Further analysis is required to determine if the company can sustain profitability. A price target cannot be given at this time without a complete valuation.