IME General Insurance profit rises by 7.35% to Rs 10.07 crore; net premium decline by 8.21% whereas claim rises by 2.29%
Wed, May 13, 2020 6:24 AM on Financial Analysis, Latest,
IME General Insurance Limited (IGI) has earned a net profit of Rs 10.7 Crore in the Q3 of FY 2076/77. The profit of the company has increased from Rs 10 Crore in the corresponding quarter of last fiscal year.
The net earnings from premium has decreased by 8.21% to Rs 36.27 Crore from Rs 39.51 Crore in the corresponding quarter of last fiscal year. The company's number of policyholders has increased to 73,330 compared to 63,182 in the corresponding Q3 of last fiscal year.
The company claim payment (net) rises by 2.29% to Rs 15.40 crore and earn Rs 12.09 as re-insurance commission.
The insurance company has a paid-up capital of Rs 1.02 Arba with a reserve of Rs 21.94 Crore in Q3 2076/77. The company’s insurance fund has increased to Rs 30.47 Crore in this quarter from Rs 22.79 Crore in the corresponding quarter of the last fiscal year.
The annualized EPS stands at Rs 14.02 with net worth per share of Rs 151.36. The PE Ratio stands at 24.74 times as of the third quarter end.
Major Highlights:
|
Particulars (In Rs '000) |
IME General Insurance |
||
|---|---|---|---|
|
Q3 2076/77 |
Q3 2075/76 |
Difference |
|
|
Paid Up Capital |
1,020,600 |
972,000 |
5.00% |
|
Reserve and Surplus |
219,421 |
194,476 |
12.83% |
|
Insurance Fund |
304,745 |
227,978 |
33.67% |
|
Gross Premium |
990,923 |
902,297 |
9.82% |
|
Net Premium |
362,713 |
395,175 |
-8.21% |
|
Re-Insurance Commission Income |
120,999 |
108,890 |
11.12% |
|
Income from Investment, Loan and others |
31,433 |
30,539 |
2.93% |
|
Claim Payment (Net) |
154,027 |
150,579 |
2.29% |
|
Agent Commission |
24,051 |
22,013 |
9.26% |
|
Gross Profit |
110,250 |
126,008 |
-12.51% |
|
Net Profit |
107,353 |
100,002 |
7.35% |
|
No of Policies |
73,330 |
63,182 |
16.06% |
|
EPS (In Rs.) |
14.02 |
13.72 |
2.24% |
|
Net Worth per Share (In Rs.) |
151.36 |
143.46 |
5.50% |
|
Qtr End PE Ratio |
24.74 |
- |
- |
|
Qtr End Market Price |
347 |
- |
- |
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