Surya Life Insurance (SLICL) Net Profit Inclines by Impressive 82.54% in Q1; Net Premium Stands at Rs. 1.26 Arba
Mon, Nov 14, 2022 2:09 PM on Latest, Financial Analysis, Stock Market,
Surya Life Insurance Company Limited (SLICL) has earned net profit of Rs 20.73 crore till the first quarter of FY 2079/80. In the previous year of the same quarter, the net profit stands at Rs 11.35 crore. The net profit increased by impressive margin of 82.54% in this quarter.
As per the unaudited report for the first quarter published today, the earnings from premium rose by 13.31% to Rs 1.26 arba till Q1 from Rs 1.11 arba in the corresponding quarter of last FY 2078/79.
The company has made a claim payment of Rs 31.89 crore till Q1 which is an increment of 65.16%; same figure stood at Rs 19.31 crore in the corresponding quarter last FY.
SLICL's has a paid-up capital of Rs 2.55 arba with a reserve of Rs 71.2 crore. Likewise, the company’s life insurance fund has increased by 29.65% to Rs 14.92 arba from Rs. 11.51 arba in the corresponding quarter.
Its annualized EPS stands at Rs 32.52 and the net worth per share at Rs 120.31.
Major financial highlights
| Particulars (In Rs '000) | Surya Life Insurance | ||
| Q1 2079/80 | Q1 2078/79 | Difference | |
| Paid Up Capital | 2,550,282.00 | 2,262,895.00 | 12.70% |
| Reserve and Surplus | 712,257.00 | 977,308.00 | -27.12% |
| Life Insurance Fund | 14,925,651.00 | 11,512,371.00 | 29.65% |
| Contingent Fund | 181,454.00 | 163,421.00 | 11.03% |
| Net Premium | 1,264,952.00 | 1,116,408.00 | 13.31% |
| Re-Insurance Income | 0.00 | 0.00 | |
| Income from Investment, Loan and others | 285,796.00 | 229,333.00 | 24.62% |
| Claim Payment (Net) | 318,933.00 | 193,100.00 | 65.16% |
| Agent Commission | 118,151.00 | 135,626.00 | -12.88% |
| Transferred to Life Insurance Fund | 916,206.00 | 928,743.00 | -1.35% |
| Net Profit | 207,353.00 | 113,595.00 | 82.54% |
| No of Policies | 409,593.00 | 389,192.00 | 5.24% |
| EPS (In Rs.) | 32.52 | 20.08 | 61.97% |
| Net Worth per Share (In Rs.) | 135.04 | 150.41 | -10.22% |
