Despite lower premium growth and higher claim payment Gurans Life Insurance achieves fair growth in Net Profit
Sun, Aug 16, 2020 9:23 AM on Latest, Company Analysis,
Gurans Life Insurance Company Limited (GLICL) has published its fourth-quarter report of fiscal year 2076/2077 with an increase in Net Profit by 24.28%. The company’s earnings increased to Rs. 9.49 crore in this quarter from Rs. 7.64 crore in the corresponding quarter of the previous year.
As per the unaudited report for the fourth quarter published today, Gurans Life has a paid-up capital of Rs. 93.85 crore with a reserve of Rs. 37.64 crore. The reserve and surplus of the company increased by 34.78% in the fourth quarter of FY 2076/2077.
The company has Rs. 7.66 Arba in life insurance fund and Rs. 4.54 crore in the contingent fund.
The Net Premium rose by 16.36% to Rs. 2.20 Arba till Q4 of FY 2076/2077 from Rs. 1.89 Arba in the corresponding quarter of the previous fiscal year. The company has earned Rs. 65.87 crore from income from investment, loans, and other headings.
The company’s Net claim increased by 49.63% to Rs. 51.33 crore till Q4. The company’s number of policies stood at 165,219 till Q4 of FY 2076/2077.
Its earnings per share (EPS) stood at Rs. 10.12 whereas Net worth per share stood at Rs. 144.95. The company traded at a P/E multiple of 45.94 times.
Major Highlights:
* net profit figure is without the profit generated from the actuarial valuation of assets and liabilities. Hence, EPS, Networth, and PE might be changed accordingly.
|
Particulars ('000) |
Gurans life insurance Company limited |
||
|---|---|---|---|
|
Q4, 2076/2077 |
Q4,2075/2076 |
Difference |
|
|
Paid-up Capital |
938,520.00 |
929,463.00 |
- |
|
Reserves & Surplus |
376,455.00 |
279,321.00 |
34.78% |
|
Life insurance Fund |
7,660,108.00 |
5,822,291.00 |
31.57% |
|
Contingent Fund |
45,406.00 |
35,907.00 |
26.45% |
|
Net Premium |
2,201,703.00 |
1,892,205.00 |
16.36% |
|
Re-insurance income |
- |
- |
- |
|
Income from investment, loan, and others |
658,678.00 |
509,498.00 |
29.28% |
|
Claim Payment (Net) |
513,328.00 |
343,060.00 |
49.63% |
|
Agent Commission |
255,918.00 |
257,868.00 |
-0.76% |
|
Gross Profit |
39,795.00 |
15,000.00 |
165.30% |
|
Transferred to life insurance fund |
1,837,817.00 |
1,590,378.00 |
15.56% |
|
Net Profit |
94,996.00 |
76,436.00 |
24.28% |
|
No. of Policies |
165,219 |
200,762 |
-17.70% |
|
EPS (Rs.) |
10.12 |
8.22 |
23.11% |
|
Net worth per share (Rs.) |
144.95 |
133.82 |
8.32% |
|
Qtr End P/E ratio |
45.94 |
- |
- |
|
Qtr End Price |
465 |
- |
- |
|
Price to book ratio (P/B) |
3.2 |
- |
- |
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