Despite Growth In Premiums In Q2, What Led To Decline In Net Profit of Premier Insurance?
Fri, Feb 11, 2022 8:54 AM on Financial Analysis, Latest,
Premier Insurance Company Limited (PIC) has earned a net profit of Rs 15.56 crore till the Q2 of FY 2078/79. The profit of the company has declined by 16.73% in this quarter compared to the corresponding quarter of the last fiscal year.
The company's yield on investments was lower compared to the corresponding quarter of the previous year which led to a decline in Net Profit in this quarter.
As per the unaudited report published today, the net premium has increased by 21.92% to Rs 46.09 crores from Rs 37.81 crores in the corresponding quarter of the last fiscal year.
The insurance company has a paid-up capital of Rs 1.07 Arba with a reserve of Rs 46.65 crore in Q2 of 2078/79.
Likewise, the company’s insurance fund has increased to Rs 91.67 crore from Rs 75.91 crore in the corresponding quarter of the last fiscal year.
The insurance company has issued a total of 84,142 insurance policies.
As per the second-quarter report, the annualized EPS of the insurance company stands at Rs 28.97 with a net worth per share of Rs 233.43. The quarter-end Price to Book Ratio stands at 4.93 times.
Major Highlights:
|
Particulars |
Premier Insurance Company Limited |
||
|---|---|---|---|
|
Q2, 2078/2079 |
Q2, 2077/2078 |
Difference |
|
|
Paid-Up Capital |
1,074,560.00 |
1,074,560.00 |
- |
|
Reserve & Surplus |
466,536.00 |
287,719.00 |
62.15% |
|
Insurance Fund |
916,745.00 |
759,155.00 |
20.76% |
|
Contingent Fund |
50,557.00 |
72,177.00 |
-29.95% |
|
Gross Premium |
1,106,173.00 |
899,097.00 |
23.03% |
|
Net Premium |
460,985.00 |
378,106.00 |
21.92% |
|
Re-Insurance Income |
129,905.00 |
102,323.00 |
26.96% |
|
Income from Investment, Loan and others |
41,690.00 |
70,160.00 |
-40.58% |
|
Claim Payment (Net) |
188,362.00 |
160,471.00 |
17.38% |
|
Agent Commission |
14,211.00 |
12,191.00 |
16.57% |
|
Net Profit |
155,659.00 |
186,922.00 |
-16.73% |
|
No. Of Policies |
84,142.00 |
82,631.00 |
- |
|
Annualized EPS (Rs.) |
28.97 |
34.79 |
- |
|
Net Worth Per Share |
233.43 |
204.14 |
- |
|
Price/Earnings Ratio (times) |
39.73 |
- |
|
|
Price/Book Ratio (times) |
4.93 |
- |
- |
