Premier Ins 98.51% profit rise spurred by growth in number of policy holders

ShareSansar, May 17:

Premier Insurance Company Limited (PIC) has reported a staggering 98.51% rise in profit for the third quarter of 2071/72.

The insurance company’s profit has doubled from Rs 3.05 crore in the corresponding quarter of 2070/71 to Rs 6.07crore in the Q3 of the current fiscal year.

The jump in profit is explained by the fact that the insurance company has managed to increase the number of its policy holders quite significantly. The number of policy holders grew to 43,416 in the Q3 of the ongoing fiscal year from 17,672 in the same period last year.

The company’s net earnings from premiums rose to Rs 20.73 crore from Rs 12.14 crore reported last year.

The company has a paid up capital of Rs 19.85 crore. Its EPS stands at Rs 30.59 and net worth per share at Rs 207.08.