Guras Life Insurance and Surya Life Insurance publish Q2 report; net profit of Rs 3.83 crore and Rs 7.26 crore earned respectively

Guras Life Insurance Company (GLICL) has published its unaudited financial report for the second quarter of the current fiscal year 2074/75. The life insurance company has witnessed a massive rise of 93.43% in its net profit. The net profit of GLICL has reached to Rs 3.83 crore in the current quarter which was Rs 1.97 crore in the previous quarter. The company has garnered Rs 55.65 crore as the earnings from premium in the Q2 of the current year which was Rs 42.92 in the corresponding quarter. The insurance fund of GLICL stands at Rs 3.56 arba. The paid up capital of the company is Rs 59.40 crore with Rs 21.35 crore in reserve. Gurans Life Insurance has recently proposed further 7% bonus and 50% & 110% right share to increase its paid-up capital to the minimum requirement set by the Insurance Board. The company will issue 50% right share on its current paid up capital of Rs 59.40 crore. After this right share issue, its paid up capital will increase to Rs 89.10 crore. The company will distribute bonus share worth Rs 6 crore (around 7%) on this capital. Finally, GLICL will float 110% right share on the paid up capital after capitalization of this bonus share, after which its paid-up capital will reach Rs 200.10 crore (i.e. Rs 2 arba and 10 lakhs). Q2 Report Likewise, Surya Life Insurance Company Limited (SLICL) has also published its Q2 report for the FY 2074/75. It has reported a profit of Rs 7.26 crore in the second quarter of the current year which was a loss of Rs 1.78 crore in the corresponding quarter. The company collected Rs 68.12 crore as earnings from premium in the current quarter which is an increment from the corresponding quarter’s Rs 46.18 crore. The insurance fund of the company is Rs 2.97 arba . The paid up capital of the company stands at Rs 72.18 crore with Rs 33.08 crore in the reserve. It has been seeking approval from SEBON for issuance of 40% right shares. After the issuance of 40% right shares, its paid-up capital will reach Rs 1.01 arba and still will be short to maintain the required capital set by the Insurance Board. Q2 Report