NLG Insurance reports a stagnant performance in Q3; premium earnings decline and 60% right shares in pipeline
Wed, May 15, 2019 6:40 AM on Financial Analysis, Stock Market, Latest,
NLG Insurance Company (NLG) has earned a net profit of Rs 15.34 crore till the third quarter (Q3) of the fiscal year 2075/76 with meager 1.59% growth.
As per the unaudited report for the third quarter published today, the net earnings from premium decreased by 3.60% to Rs 53.60 crore till Q3 from Rs 55.60 crore in the corresponding quarter of last FY 2074/75.
The claims payment (net) rises by 2.25% to Rs 32.97 crore till Q3. The number of policyholders decline by 0.20% to 1.24 lakhs.
NLG Insurance has a paid-up capital of Rs 64.04 arba with reserve of Rs 19.87 crore. Likewise, the company’s insurance fund has increased to Rs 78.41 crore from Rs 65.68 crore in the corresponding quarter.
The company is yet to meet to minimum paid up capital requirement of Rs 1 arba set by regulatory authority. For the purpose of increasing paid up capital NLG Insurance is planning to issue 60% right shares.
Its annualized EPS stands at Rs 31.94, net worth per share at Rs 262.01 and quarter end P/E ratio at 26.89 times.
Major Highlights:
|
Particulars (In Rs '000) |
NLG Insurance |
||
|---|---|---|---|
|
Q3 2075/76 |
Q3 2074/75 |
Difference |
|
|
Paid Up Capital |
640,406.00 |
640,406.00 |
0.00% |
|
Reserve and Surplus |
198,741.00 |
85,753.00 |
131.76% |
|
Insurance Fund |
784,182.00 |
656,850.00 |
19.39% |
|
Contingent Fund |
54,601.00 |
42,181.00 |
29.44% |
|
Net Premium |
536,055.00 |
556,062.00 |
-3.60% |
|
Re-Insurance Income |
188,009.00 |
137,524.00 |
36.71% |
|
Income from Investment, Loan and others |
53,007.00 |
46,301.00 |
14.48% |
|
Claim Payment (Net) |
329,774.00 |
322,526.00 |
2.25% |
|
Agent Commission |
37,606.00 |
34,482.00 |
9.06% |
|
Gross Profit |
169,942.00 |
205,085.00 |
-17.14% |
|
Net Profit |
153,430.00 |
151,024.00 |
1.59% |
|
No of Policies |
124,856.00 |
125,102.00 |
-0.20% |
|
Annualized EPS (In Rs.) |
31.94 |
31.44 |
1.59% |
|
Net Worth per Share (In Rs.) |
262.01 |
222.54 |
17.73% |
|
Qtr End PE Ratio |
26.89 |
- |
- |
