Jyoti Life Insurance reports 91.87% growth in net profit in Q1; Company to issue IPO soon
Mon, Nov 2, 2020 8:35 AM on Latest, Company Analysis,
Jyoti Life Insurance Company Limited (JLICL) has published its first-quarter report of fiscal year 2077/2078 with an increase in Net Profit by a massive 91.87% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 7.22 crore in this quarter from Rs. 3.76 crore in the corresponding quarter.
As per the unaudited report for the first quarter published today, Jyoti Life has a paid-up capital of Rs. 1.54 Arba with a reserve of Rs. 46.05 crores.
The company has Rs. 2.25 Arba in life insurance fund and Rs. 5.11 crore in the contingent fund.
The Net Premium rose by 98.79% to Rs. 52.53 crores in FY 2077/2078 from Rs. 26.42 crores in the corresponding quarter of the previous year. The company has earned Rs. 3.83 crores from income from investment, loans, and other headings.
The company’s Net claim increased by 831.49% to Rs. 42.86 lakhs in this quarter. The company’s number of policies stood at 8,096 till Q1 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 18.76 whereas Net worth per share stood at Rs. 133.23.
Major Highlights:
|
Particulars |
Jyoti Life Insurance |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,540,000.00 |
1,540,000.00 |
- |
|
Reserve & Surplus |
460,534.20 |
248,037.99 |
85.67% |
|
Insurance Fund |
2,259,716.19 |
914,656.77 |
147.06% |
|
Contingent Fund |
51,170.47 |
27,539.48 |
85.81% |
|
Gross Premium |
545,700.00 |
276,500.00 |
97.36% |
|
Net Premium |
525,333.92 |
264,264.52 |
98.79% |
|
Re-Insurance Commission Income |
- |
- |
- |
|
Income from Investment, Loan, and others |
38,369.65 |
21,968.72 |
74.66% |
|
Claim Payment (Net) |
4,286.79 |
460.21 |
831.49% |
|
Agent Commission |
96,378.73 |
27,187.87 |
254.49% |
|
Gross Profit |
47,522.54 |
5,325.89 |
792.29% |
|
Net Profit |
72,222.13 |
37,641.29 |
91.87% |
|
No. of Policies |
8,096 |
4,206 |
92.49% |
|
Annualized EPS (In Rs.) |
18.76 |
9.78 |
91.87% |
|
Net Worth per share (In Rs.) |
133.23 |
117.89 |
13.01% |
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