Asian Life Insurance (ALICL) Publishes Third Quarter Report for FY 2079/2080 with Rs. 19.47 Crores in Net Profit
Wed, May 10, 2023 5:16 PM on Latest,
Asian Life Insurance Company Limited (ALICL) has published its third-quarter report for the FY 2079/2080 with an increment in Net Profit by a 5.80%. The company's net profit has increased from Rs. 18.40 crores in the third quarter of FY 2078/2079 to Rs. 19.47 crores in the third quarter of FY 2079/2080.
The paid-up capital of the company stands at Rs. 2.90 Arba and reserve and surplus stood at Rs 49.7 crores. Its life insurance fund increased by 17.65 % to Rs. 36.25 Arba and its contingent fund stood at Rs. 17.18 crores.
The net premium decreased marginally by 0.65 % to Rs. 5.08 Arba and income from Investment, and Loan increased by 23.04 % to Rs 22.88 Crores.
The agent commission decreased by 16.62% to Rs 1.53 Arba in this quarter. The company's net claim payment increased by 32.83 % to Rs 1.54 Arba till Q3. The number of policies stood at 6,18,337.
The company annualized EPS stood at Rs. 8.93 and net worth per share stood at Rs. 123.03.
Major Financial Highlights:
| Particulars (In Rs '000) | Asian Life Insurance | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 2,908,111.10 | 2,539,835.00 | 14.50% |
| Reserve and Surplus | 497,761.42 | 428,266.07 | 16.23% |
| Life Insurance Fund | 36,456,380.26 | 30,987,642.06 | 17.65% |
| Contingent Fund | 171,875.62 | 119,635.13 | 43.67% |
| Net Premium | 5,081,266.17 | 5,114,617.65 | -0.65% |
| Income from Investment, Loan and others | 228,875.01 | 186,018.19 | 23.04% |
| Administrative Expenses | 357,581.85 | 417,760.27 | -14.41% |
| Claim Payment (Net) | 1,541,678.81 | 1,160,667.38 | 32.83% |
| Provision for Losses | 231,398.56 | 27,950.47 | 727.89% |
| Agent Commission | 1,538,051.79 | 1,844,682.23 | -16.62% |
| Net Profit | 194,722.25 | 184,054.66 | 5.80% |
| No of Policies (Nos) | 618,337 | 400,575 | 54.36% |
| Annualized EPS (In Rs.) | 8.93 | 14.49 | -38.40% |
| Net Worth per Share (In Rs.) | 123.03 | 121.57 | 1.20% |
| PE Ratio | 68.10 | - | - |
| Qtr End Price | 608.00 | ||
