Ajod Insurance reports huge increment in Premium collection in Q1; Annualized EPS increased to Rs. 21.22
Thu, Nov 12, 2020 8:26 AM on Latest, Company Analysis,
Ajod Insurance Company Limited (AJOD) has published its first-quarter report of fiscal year 2077/2078 with an increase in Net Profit. The company’s net earnings increased to Rs. 5.30 crores in this quarter from Rs. 77.97 Lakhs in the corresponding quarter.
As per the unaudited report for the first quarter published today, Ajod Insurance has a paid-up capital of Rs. 1.00 Arba with a reserve of Rs. 6.93 crores.
The company has an insurance fund of Rs. 8.81 crores and a contingent fund of Rs. 97.37 Lakhs.
The Net Premium rose by 45.48% to Rs. 11.56 crores in FY 2077/2078 from Rs. 7.95 crores in the corresponding quarter of the previous year. The company has earned Rs. 68.69 Lakhs from income from investment, loans, and other headings.
The company’s Net claim increased by 95.84% to Rs. 3.45 crores in this quarter. The company’s number of policies stood at 35,952 till Q1 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 21.22 whereas Net worth per share stood at Rs. 116.72. The company traded at a P/B multiple of 4.31 times.
Major Highlights:
|
Particulars |
Ajod Insurance Company Limited |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,000,000.00 |
7,000,000.00 |
- |
|
Reserve & Surplus |
69,370.00 |
18,229.00 |
280.55% |
|
Insurance Fund |
88,127.00 |
32,095.00 |
174.58% |
|
Contingent Fund |
9,737.00 |
4,809.00 |
102.47% |
|
Gross Premium |
331,844.00 |
200,699.00 |
65.34% |
|
Net Premium |
115,659.00 |
79,500.00 |
45.48% |
|
Re-Insurance Commission Income |
44,983.00 |
29,670 |
51.61% |
|
Income from Investment, Loan, and others |
6,869.00 |
4,742.00 |
44.85% |
|
Claim Payment (Net) |
34,524.00 |
17,629.00 |
95.84% |
|
Agent Commission |
11,051.00 |
5,947.00 |
85.82% |
|
Gross Profit |
52,264.00 |
-5,032.00 |
- |
|
Net Profit |
53,054.00 |
7,797.00 |
580.44% |
|
No. of Policies |
35,952 |
26,443 |
35.96% |
|
Annualized EPS (In Rs.) |
21.22 |
0.45 |
4663.09% |
|
Net Worth per share (In Rs.) |
116.72 |
100.26 |
16.42% |
|
Price/Book ratio |
4.31 |
- |
- |
