IME General reported satisfactory growth in major profitability indicators in Q3; EPS at Rs. 23.24, BVPS at Rs. 169.87

Mon, May 10, 2021 8:13 AM on Latest, Financial Analysis,

IME General Insurance Company Limited (IGI) has published its third-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 75.63% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 18.85 crores in this quarter from Rs. 10.73 crores in the corresponding quarter.

As per the unaudited report for the 3rd quarter published today, IGI has a paid-up capital of Rs. 1.08 Arba with a reserve of Rs. 30.26 crores. The company has Rs. 45.32 crores in the insurance fund.

The Net Premium increased by 42.89% to Rs. 51.82 crores in FY 2077/2078 from Rs. 36.27 crores in the corresponding quarter of the previous year. The company has earned Rs. 4.76 crores from income from investment, loans, and other headings and Rs. 13.65 crores from re-insurance income.

The company’s Net claim increased by 28.79% to Rs. 19.83 crores in this quarter. The company’s number of policies stood at 106,271 till Q3 of 2077/2078.

Its annualized earnings per share (EPS) stood at Rs. 23.24 whereas Net worth per share stood at Rs. 169.87. The company traded at a P/B multiple of 7.40 times.

Click here for the Q3 report

Major Highlights:

Particulars

IME General Insurance Company Limited

Q3, 2077/2078

Q3, 2076/2077

Difference

Paid-Up Capital

1,081,836.00

1,020,600.00

6.00%

Reserve & Surplus

302,687.00

219,421.00

37.95%

Insurance Fund

453,234.00

304,745.00

48.73%

Contingent Fund

0.00

0.00

-

Gross Premium

1,141,882.00

990,923.00

15.23%

Net Premium

518,288.00

362,713.00

42.89%

Re-Insurance Income

136,572.00

120,999.00

12.87%

Income from Investment, Loan and others

47,633.00

31,433.00

51.54%

Claim Payment (Net)

198,379.00

154,027.00

28.79%

Agent Commission

27,586.00

24,051.00

14.70%

Net Profit

188,542.00

107,353.00

75.63%

No. Of Policies

106,271.00

73,330.00

-

Annualized EPS (Rs.)

23.24

14.02

-

Net Worth Per Share

169.87

151.36

-

Price/Book Ratio (times)

7.40

-

-