Himalayan General Insurance net profit rises by 40.10% despite fall in net premium; EPS stands at Rs 19.33 in Q4

Tue, Aug 13, 2019 6:56 AM on Financial Analysis, Latest,
Himalayan...

Himalayan General Insurance (HGI) published the quarterly report for the fourth quarter of FY 2075/76. The company has posted a growth of 40.10% in the net profits. The net profit of the company was previously at Rs 14.16 crore which grew to Rs 19.85 crore by the end of the fourth quarter.

The paid up capital of the company stands at Rs 1.02 Arba. The reserves of the company grew by 63.63% from Rs 15.59 crore to Rs 25.52 crore by the end of the fourth quarter.

Insurance fund of the company stands at Rs 47.30 crore, up from Rs 37.38 crore posted in the corresponding quarter of the previous year. The gross premium grew by 22.49% from Rs 1.19 arba to Rs 1.45 arba whereas in the same period net premium decline by 17.60% from Rs 32.88 crore to Rs 27.09 crore. The number of total inforce policies stands at 46,205 policies which was previously 41,406 policies.

The company claim payment (net) rises by 4.13% to Rs 17.48 crore and made expenses of Rs 1.41 crore as agent commission.

The EPS of the company stands at Rs 19.33 and the net worth per share stands at Rs 174.10. The quarter end PE stands at 18.11 times.

Major Highlights:

Particulars (In Rs '000)

Himalayan General Insurance

Q4 2075/76

Q4 2074/75

Difference

Paid Up Capital

1,027,200.00

1,027,200.00

0.00%

Reserve and Surplus

255,255.00

155,998.00

63.63%

Insurance Fund

473,082.00

373,825.00

26.55%

Contingent Fund

32,854.00

32,854.00

0.00%

Net Premium

270,959.00

328,820.00

-17.60%

Re-Insurance Income

150,380.00

101,122.00

48.71%

Income from Investment, Loan and others

72,357.00

64,597.00

12.01%

Claim Payment (Net)

174,842.00

167,906.00

4.13%

Agent Commission

14,171.00

13,670.00

3.66%

Gross Profit

220,931.00

140,530.00

57.21%

Net Profit

198,512.00

141,689.00

40.10%

Gross Premium

1,458,853.00

1,190,977.00

22.49%

No of Policies

46,205.00

41,406.00

11.59%

EPS (In Rs.)

19.33

13.79

40.10%

Net Worth per Share (In Rs.)

174.10

154.78

12.49%

Qtr End PE Ratio

18.11

-

-