General Insurance reported growth in major indicators; Annualized EPS at Rs. 9.51
Sun, Nov 29, 2020 8:51 AM on Latest, Company Analysis,
General Insurance Company Limited (GIC) has published its first-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by a massive 307.63% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 2.37 crores in this quarter from Rs. 58.35 Lakhs in the corresponding quarter.
General Insurance has a paid-up capital of Rs. 1.00 Arba with a reserve of Rs. 5.27 crores. Similarly, the company has Rs. 63.65 Lakhs as a contingent fund. The company has an insurance fund of Rs. 6.29 crores.
The company reported 35.10% growth in gross premium. The company ceded most of its premium to the reinsurer which is why the company reported a total of Rs. 9.75 crores net premium for the quarter. The company had a net claim payment of Rs. 1.65 crores which were Rs. 1.30 crores in the corresponding quarter of the previous year; an increment of 26.90%.
Its annualized earnings per share (EPS) stood at Rs. 9.51 whereas Net worth per share stood at Rs. 112.21. The Company traded at a P/B multiple of 3.28 times.
Major Highlights:
|
Particulars |
General Insurance Company Limited |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,000,000.00 |
700,000.00 |
- |
|
Reserve & Surplus |
52,786.00 |
28,348.00 |
86.21% |
|
Insurance Fund |
62,900.00 |
31,498.00 |
99.70% |
|
Contingent Fund |
6,365.00 |
3,150.00 |
102.06% |
|
Gross Premium |
190,501.00 |
141,012.00 |
35.10% |
|
Net Premium |
97,541.00 |
70,540.00 |
38.28% |
|
Re-Insurance Commission Income |
24,798.00 |
19,164 |
29.40% |
|
Income from Investment, Loan, and others |
4,041.00 |
3,871.00 |
4.39% |
|
Claim Payment (Net) |
16,576.00 |
13,062.00 |
26.90% |
|
Agent Commission |
3,529.00 |
3,955.00 |
-10.77% |
|
Gross Profit |
21,056.00 |
-6,563.00 |
- |
|
Net Profit |
23,785.00 |
5,835.00 |
307.63% |
|
No. of Policies |
19,920 |
12,902 |
54.39% |
|
Annualized EPS (In Rs.) |
9.51 |
3.33 |
185.34% |
|
Net Worth per share (In Rs.) |
112.21 |
104.05 |
7.84% |
|
Price/Book ratio |
3.28 |
- |
- |
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