Jyoti Life Insurance reports massive growth in business volume in Q2; Company in process to issue an IPO
Fri, Jan 29, 2021 8:29 AM on Latest, Company Analysis,
Jyoti Life Insurance Company Limited (JLICL) has published its second-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 56.56% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 10.78 crores in this quarter from Rs. 6.89 crores in the corresponding quarter.
As per the unaudited report for the second quarter published today, Jyoti Life has a paid-up capital of Rs. 1.54 Arba with a reserve of Rs. 48.24 crores.
The company has Rs. 2.91 Arba in life insurance fund and Rs. 5.36 crores in the contingent fund.
The Net Premium rose by 92.53% to Rs. 1.39 Arba in FY 2077/2078 from Rs. 72.54 crores in the corresponding quarter of the previous year. The company has earned Rs. 11.11 crores from income from investment, loans, and other headings.
The company’s Net claim increased by 741% to Rs. 1.15 crores in this quarter. The company’s number of policies stood at 16,686 till Q2 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 14.01 whereas Net worth per share stood at Rs. 134.01.
(NOTE: The company is in the process to issue an IPO)
Major Highlights:
|
Particulars |
Jyoti Life Insurance Company Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,540,000.00 |
1,540,000.00 |
0.00% |
|
Reserve & Surplus |
482,473.20 |
334,650.23 |
44.17% |
|
Insurance Fund |
2,917,986.65 |
1,208,178.29 |
141.52% |
|
Contingent Fund |
53,608.13 |
37,203.66 |
44.09% |
|
Gross Premium |
1,445,404.00 |
751,368.00 |
92.37% |
|
Net Premium |
1,396,762.57 |
725,473.37 |
92.53% |
|
Re-Insurance Income |
- |
- |
- |
|
Income from Investment, Loan and others |
111,118.72 |
57,348.84 |
93.76% |
|
Claim Payment (Net) |
15,175.06 |
1,803.63 |
741.36% |
|
Agent Commission |
223,349.45 |
123,749.82 |
80.48% |
|
Net Profit |
107,871.37 |
68,900.40 |
56.56% |
|
No. Of Policies |
16,686.00 |
9,955.00 |
- |
|
Annualized EPS (Rs.) |
14.01 |
8.95 |
- |
|
Net Worth Per Share |
134.81 |
124.15 |
- |
