Despite a huge growth of 900% in the earnings from premiums, Jyoti Life insurance profit fall by 20%
Tue, Feb 12, 2019 10:27 AM on Financial Analysis, Latest, Stock Market,
Jyoti Life Insurance Company Limited ( JLICL ) has earned a net profit of Rs 6.45 crore in the Q2 of 2075/76 fiscal year. The profit of the company has decreased by -20.0% in this quarter compared to the corresponding quarter of last fiscal year.
As per the unaudited report published today, the net earnings from premium has increased massively by 957.0% to Rs 30.91 crore in Q2 2075/76 from Rs 2.92 crore in the corresponding quarter of last fiscal year. The management expenses have grown hugely to Rs 1.59 crore in this quarter from Rs 30 lakhs in Q2 75/76.
The company's number of policyholders has increased to 7,335 in Q2 2075/76 from 862 in the corresponding quarter of the last fiscal year.
The insurance company has a paid-up capital of Rs 1.54 arba with a reserve of Rs 17.18 crore in Q2 2075/76.
Financail Highlights of Q2;
| Particulars (In Rs '000) | JLICL | ||
|---|---|---|---|
| Q2 2075/76 | Q2 2074/75 | Difference | |
| Paid Up Capital | 1540000 | 1540000 | |
| Reserved & Surplus | 171838.96 | 89946.58 | 91% |
| Insurance Fund | 328966.14 | ||
| Net Earnings From Premium | 309119.5 | 29235.31 | 957% |
| Management Expenses | 15955.64 | 3083.67 | 417% |
| Policy Holders | 7,335 | 862 | 751% |
| Net Profit | 64463.14 | 80296.7 | -20% |
| EPS | 8.37 | 10.43 | |
| Net Worth Per Share | 111.16 | 105.84 |
Likewise, the company’s life insurance fund stands to Rs 32.9 crore.
Its annualized EPS stands at Rs 8.37, net worth per share at Rs 111.16. The company is yet to float IPO to the general public.
