IME Life reports Increased business volume in Q2; Company in process to issue an IPO
Tue, Feb 2, 2021 8:08 AM on Latest, Company Analysis,
IME Life Insurance Company Limited (IMELICL) has published its second-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 20.97% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 7.40 crores in this quarter from Rs. 6.12 crores in the corresponding quarter.
As per the unaudited report for the second quarter published today, IME Life has a paid-up capital of Rs. 1.40 Arba with a reserve of Rs. 42.70 Arba.
The company has Rs. 2.09 Arba in life insurance fund and Rs. 4.74 crores as Contingent Fund.
The Net Premium rose by 98.51% to Rs. 1.20 Arba in FY 2077/2078 from Rs. 60.50 crores in the corresponding quarter of the previous year. The company has earned Rs. 11.04 crores from income from investment, loans, and other headings.
The company’s Net claim increased by massive 1019.67% to Rs. 20.03 crores in this quarter. The company’s number of policies stood at 23,814 till Q2 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 10.58 whereas Net worth per share stood at Rs. 133.89.
Major Highlights:
|
Particulars |
IME Life Insurance Company Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,400,000.00 |
1,400,000.00 |
0.00% |
|
Reserve & Surplus |
427,035.47 |
249,008.31 |
71.49% |
|
Insurance Fund |
2,098,324.14 |
1,027,764.31 |
104.16% |
|
Contingent Fund |
47,448.39 |
31,581.48 |
- |
|
Gross Premium |
1,237,276.00 |
617,293.00 |
100.44% |
|
Net Premium |
1,207,965.58 |
608,505.44 |
98.51% |
|
Re-Insurance Income |
0.00 |
0.00 |
- |
|
Income from Investment, Loan and others |
111,044.52 |
52,605.56 |
111.09% |
|
Claim Payment (Net) |
209,038.09 |
18,669.61 |
1019.67% |
|
Agent Commission |
232,194.84 |
113,588.67 |
104.42% |
|
Net Profit |
74,051.13 |
61,211.95 |
20.97% |
|
No. Of Policies |
23,814.00 |
20,660.00 |
- |
|
Annualized EPS (Rs.) |
10.58 |
8.74 |
- |
|
Net Worth Per Share |
133.89 |
120.04 |
- |
|
Price/Book Ratio (times) |
0.00 |
- |
- |
