Asian Life reports huge growth in Premium collection and Net Profit in Q1; Annualized EPS stands at Rs. 18.71
Thu, Nov 12, 2020 7:13 AM on Latest, Company Analysis,
Asian Life Insurance Company Limited (ALICL) 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. 9.40 crores in this quarter from Rs. 4.02 crores in the corresponding quarter.
As per the unaudited report for the first quarter published today, Asian Life has a paid-up capital of Rs. 2.01 Arba with a reserve of Rs. 63.17 crores.
The company has Rs. 23.06 Arba in life insurance fund and Rs. 7.06 crores in the contingent fund.
The Net Premium rose by 63.85% to Rs. 1.45 Arba in FY 2077/2078 from Rs. 88.86 crores in the corresponding quarter of the previous year. The company has earned Rs. 44.82 crores from income from investment, loans, and other headings.
The company’s Net claim increased by 59.89% to Rs. 22.58 crores in this quarter. The company’s number of policies stood at 300,854 till Q1 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 18.71 whereas Net worth per share stood at Rs. 134.93. The company traded at a P/B multiple of 5.27 times.
Major Highlights:
|
Particulars |
Asian Life Insurance Company Limited |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
2,010,760.73 |
2,010,760.73 |
- |
|
Reserve & Surplus |
631,708.56 |
405,435.68 |
55.81% |
|
Insurance Fund |
23,060,492.44 |
17,948,827.79 |
28.48% |
|
Contingent Fund |
70,664.44 |
43,073.31 |
64.06% |
|
Gross Premium |
1,472,247.00 |
889,326.00 |
65.55% |
|
Net Premium |
1,456,095.37 |
888,659.48 |
63.85% |
|
Re-Insurance Commission Income |
- |
- |
- |
|
Income from Investment, Loan, and others |
448,271.43 |
349,808.88 |
28.15% |
|
Claim Payment (Net) |
225,861.92 |
141,262.84 |
59.89% |
|
Agent Commission |
190,030.92 |
101,380.98 |
87.44% |
|
Gross Profit |
1,811.86 |
3,760.24 |
-51.82% |
|
Net Profit |
94,048.07 |
40,233.66 |
133.75% |
|
No. of Policies |
300,854 |
277,750 |
8.32% |
|
Annualized EPS (In Rs.) |
18.71 |
8.00 |
133.75% |
|
Net Worth per share (In Rs.) |
134.93 |
122.31 |
10.32% |
|
Price/Book |
5.27 |
- |
- |
.png)
