Surya Life Insurance Q4 financials unaffected by COVID-19 and lockdown; Net Premium and Net Profit rises by 14.33% and 25.97%
Fri, Aug 14, 2020 4:27 PM on Latest, Company Analysis,
Surya Life Insurance Company Limited (SLICL) has published its fourth-quarter report of fiscal year 2076/2077 with an increase in Net Profit by 25.97%. The company’s earnings increased to Rs. 26.27 crore in this quarter from Rs. 20.86 crore in the corresponding quarter of the previous year.
As per the unaudited report for the fourth quarter published today, SLICL has a paid-up capital of Rs. 2.15 Arba with a reserve of Rs. 66.87 crore. The reserve and surplus of the company increased by 62.99% in the fourth quarter of FY 2076/2077.
The company has Rs. 7.42 Arba in life insurance fund and Rs. 10.92 crore in the contingent fund.
The Net Premium rose by 14.33% to Rs. 2.84 Arba till Q4 of FY 2076/2077 from Rs. 2.48 Arba in the corresponding quarter of the previous fiscal year. The company has earned Rs. 67.90 crore from income from investment, loans, and other headings.
The company’s Net claim increased by a massive 95.94% to Rs. 44.59 crore till Q4. The company’s number of policies stood at 309,887 till Q4 of FY 2076/2077.
Its earnings per share (EPS) stood at Rs. 12.19 whereas Net worth per share stood at Rs. 128.07. The company traded at a P/E multiple of 36.74 times.
Major Highlights:
|
Particulars ('000) |
Surya life Insurance Company limited |
||
|---|---|---|---|
|
Q4, 2076/2077 |
Q4,2075/2076 |
Difference |
|
|
Paid-up Capital |
2,155,138.00 |
1,267,728.00 |
- |
|
Reserves & Surplus |
668,735.00 |
410,293.00 |
62.99% |
|
Life insurance Fund |
7,427,522.00 |
5,252,452.00 |
41.41% |
|
Contingent Fund |
109,297.00 |
77,665.00 |
40.73% |
|
Net Premium |
2,845,588.00 |
2,488,908.00 |
14.33% |
|
Re-insurance income |
- |
- |
- |
|
Income from investment, loan, and others |
679,061.00 |
453,509.00 |
49.73% |
|
Claim Payment (Net) |
445,989.00 |
227,615.00 |
95.94% |
|
Agent Commission |
349,165.00 |
327,977.00 |
6.46% |
|
Gross Profit |
194,140.00 |
163,585.00 |
18.68% |
|
Transferred to life insurance fund |
2,202,187.00 |
1,727,752.00 |
27.46% |
|
Net Profit |
262,796.00 |
208,613.00 |
25.97% |
|
No. of Policies |
309,887 |
376,967 |
-17.79% |
|
EPS (Rs.) |
12.19 |
16.45 |
-25.90% |
|
Net worth per share (Rs.) |
128.07 |
- |
- |
|
Qtr End P/E ratio |
36.74 |
- |
- |
|
Qtr End Price |
448 |
- |
- |
|
Price to book ratio (P/B) |
3.47 |
- |
- |
