Gurans Life Insurance’s profit hikes by 16.54% to Rs 3.10 crore; EPS & Net worth at Rs 5.23 & Rs 132.51 respectively

Gurans Life Insurance Company Limited (GLICL) has earned net profit of Rs 3.10 crore by the end of fourth quarter of the last fiscal year 2073/74. As per the unaudited financial statement of the life insurance company published, its net profit has ascends by 16.54 percent. It had earned Rs 2.66 crore in the corresponding period of the last fiscal year. On the other hand, its net premium earnings has increased to Rs 1.12arba from Rs 92.54 crore. It has also earned Rs 8.29 lakh as reinsurance commission this year. As of the end of Q4 this year, it’s paid up capital stand at Rs 59.4 crore Its reserves and surplus diminishes to Rs 17.12 crore from Rs 18.72 crore and life insurance fund amounts to Rs 3.07 arba from Rs 31.40 arba. As per the capital increment plan submitted by the insurance company, the company had distributed 8% bonus share worth Rs.4 crore 40 lakhs from the profit it earned in the fiscal year 72/73 and will issue 50% right shares worth Rs. 29 crore 70 lakhs. After that its capital will reach 89.1 crore, GLICL will further issue 7% bonus shares worth of Rs. 6 crore and 110% right shares worth Rs. 1 arba 5 crores from the profit of the fiscal year 73/74 and meet the capital requirement. It has paid claims worth Rs 14.52 crore this year, while it has pending claims of Rs 58.49 lakh. Its earning per share (EPS) and net worth per share stands at Rs 5.23 and Rs 132.51, while P/E ratio is at 195.13 times.