National Life Insurance earns Rs 32.25 crore till Q3; Both net premium and claim rises by more than 50%
Wed, May 12, 2021 5:22 AM on Financial Analysis, Latest,
National Life Insurance Company Limited (NLICL) has published its third-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by a meagre 2.20% compared to the corresponding quarter of the previous year. The company’s net profit increased to Rs. 32.25 crores in this quarter from Rs. 31.56 crores in the corresponding quarter.
As per the unaudited report for the third quarter published today, National Life has a paid-up capital of Rs. 3.39 Arba with a reserve of Rs. 81.17 crores.
The company has Rs. 40.21 Arba in life insurance fund and Rs. 29 crores in the contingent fund.
The Net Premium rose by 53.68% to Rs. 6.89 Arba in FY 2077/2078 from Rs. 5.65 Arba in the corresponding quarter of the previous year. The company has earned Rs. 2.13 arba from income from investment, loans, and other headings.
The company’s Net claim increased by 52.21% to Rs. 2.83 arba till this quarter. The company’s number of policies stood at 917,950 till Q3 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 12.68 whereas Net worth per share stood at Rs. 132.49. The company traded at a P/E multiple of 90.98 times.
Major Highlights:
| Particulars (In Rs '000") | National Life Insurance | ||
|---|---|---|---|
| Q3 2077/78 | Q3 2076/77 | Difference | |
| Paid Up Capital | 3,390,889 | 3,082,627 | 10.00% |
| Reserve and Surplus | 811,724 | 762,424 | 6.47% |
| Life Insurance Fund | 40,217,998 | 31,529,218 | 27.56% |
| Contingent Fund | 290,038.77 | 248,506.96 | 0.00% |
| Net Premium | 8,693,929 | 5,657,153 | 53.68% |
| Re-Insurance Commission Income | 27,710 | 27,720 | -0.04% |
| Income from Investment, Loan and others | 2,130,626 | 1,790,409 | 19.00% |
| Claim Payment (Net) | 2,839,591 | 1,865,570 | 52.21% |
| Agent Commission | 973,063 | 589,060,779 | -99.83% |
| Transferred to Life Insurance Fund | 6,302,582 | 4,338,515 | 45.27% |
| Gross Profit | 182,686 | 202,001 | -9.56% |
| Net Profit | 322,571 | 315,621 | 2.20% |
| No of Policies | 917,950 | 784,366 | 17.03% |
| EPS (In Rs.) | 12.68 | 13.65 | -7.09% |
| Net Worth per Share (In Rs.) | 132.49 | 132.79 | -0.23% |
| Qtr End PE Ratio | 90.98 | - | - |
| Qtr End Market Price | 1,154.00 | - | - |
