Gurans Life Insurance reports massive growth in premium collection in Q1; Profit increased by 10.76%

Thu, Nov 12, 2020 10:00 AM on Latest, Company Analysis,

Gurans Life Insurance Company Limited (GLICL) has published its first-quarter report of fiscal year 2077/2078 with an increase in Net Profit by 10.76% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 4.27 crores in this quarter from Rs. 3.19 crores in the corresponding quarter.

As per the unaudited report for the first quarter published today, Gurans Life has a paid-up capital of Rs. 1.87 Arba with a reserve of Rs. 56.62 crores.

The company has Rs. 8.50 Arba in life insurance fund and Rs. 4.96 crores in the contingent fund.

The Net Premium rose by 114.63% to Rs. 96.26 crores in FY 2077/2078 from Rs. 452.96 crores in the corresponding quarter of the previous year. The company has earned Rs. 20.36 crores from income from investment, loans, and other headings.

The company’s Net claim increased by 90.40% to Rs. 14.29 crores in this quarter. The company’s number of policies stood at 169,708 till Q1 of 2077/2078.

Its annualized earnings per share (EPS) stood at Rs. 9.11 whereas Net worth per share stood at Rs. 132.82. the company traded at a P/B multiple of 4.57 times.

Click here for the Q1 report

Major Highlights:

Particulars

Gurans Life Insurance Company Limited

Q1, 2077/2078

Q1, 2076/2077

Difference

Paid-Up Capital

1,877,040.00

938,520.00

-

Reserve & Surplus

566,289.00

309,861.00

82.76%

Insurance Fund

8,500,580.00

6,239,889.00

36.23%

Contingent Fund

49,683.00

39,101.00

27.06%

Gross Premium

970,388.00

452,961.00

114.23%

Net Premium

962,640.00

448,520.00

114.63%

Re-Insurance Commission Income

-

-

-

Income from Investment, Loan, and others

203,684.00

151,164.00

34.74%

Claim Payment (Net)

142,954.00

75,082.00

90.40%

Agent Commission

107,796.00

53,588.00

101.16%

Gross Profit

21,322.00

19,250.00

10.76%

Net Profit

42,771.00

31,947.00

33.88%

No. of Policies

169,708

202,656

-16.26%

Annualized EPS (In Rs.)

9.11

13.62

-33.06%

Net Worth per share (In Rs.)

132.82

137.18

-3.18%

Price/Book

4.57

-

-