Ajod Insurance reports satisfactory growth in business volume in Q3; Claim payment rose by huge margin
Sun, May 9, 2021 7:57 AM on Financial Analysis, Latest,
Ajod Insurance Company Limited (AJOD) has published its third-quarter report of the fiscal year 2077/2078 with an increase in Net Profit. The company’s net earnings increased to Rs. 6.11 crores in this quarter from Rs. 3.51 crores in the corresponding quarter.
As per the unaudited report for the third quarter published today, Ajod Insurance has a paid-up capital of Rs. 1.00 Arba with a reserve of Rs. 7.55 crores.
The company has an insurance fund of Rs. 9.29 crores and a contingent fund of Rs. 83.90 Lakhs.
The Net Premium rose by 61.64% to Rs. 29.90 crores in FY 2077/2078 from Rs. 18.49 crores in the corresponding quarter of the previous year. The company has earned Rs. 2.39 crores from income from investment, loans, and other headings.
The company’s Net claim increased by 119.58% to Rs. 14.35 crores in this quarter. The company’s number of policies stood at 105,090 till Q3 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 8.15 whereas Net worth per share stood at Rs. 117.68. The company traded at a P/B multiple of 7.65 times.
Major Highlights:
|
Particulars |
Ajod Insurance Company Limited |
||
|---|---|---|---|
|
Q3, 2077/2078 |
Q3, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,000,000.00 |
700,000.00 |
42.86% |
|
Reserve & Surplus |
75,515.00 |
33,378.00 |
126.24% |
|
Insurance Fund |
92,925.00 |
48,135.00 |
93.05% |
|
Contingent Fund |
8,390.00 |
5,738.00 |
46.22% |
|
Gross Premium |
1,024,191.00 |
606,312.00 |
68.92% |
|
Net Premium |
299,004.00 |
184,977.00 |
61.64% |
|
Re-Insurance Income |
134,934.00 |
90,457.00 |
49.17% |
|
Income from Investment, Loan and others |
23,908.00 |
19,246.00 |
24.22% |
|
Claim Payment (Net) |
143,518.00 |
65,361.00 |
119.58% |
|
Agent Commission |
31,084.00 |
19,316.00 |
60.92% |
|
Net Profit |
61,106.00 |
35,145.00 |
73.87% |
|
No. Of Policies |
105,090.00 |
70,400.00 |
- |
|
Annualized EPS (Rs.) |
8.15 |
6.69 |
- |
|
Net Worth Per Share |
117.68 |
112.46 |
- |
|
Price/Book Ratio (times) |
7.65 |
- |
- |
