Only 7.25% rise in profit in Q1 for Prime Life Insurance; Rs 61.43 crore net premiums take EPS to Rs 15.25

Prime Life Insurance Company Ltd. (PLIC) has posted a 7.25% increment in its net profit as of the first quarter of the fiscal year 2075/76.

As per the unaudited quarterly report published by the life insurance company today, its net profit has increased to Rs 6.80 crore – up from Rs 6.34 crore in the corresponding quarter last year.

It has earned Rs 61.43 crore in net premium earnings and has paid claims of Rs 11.31 crore. The company has not been involved in reinsurance. The life insurance company has issued 16,40,004 insurance policies till the fiscal year 207576.

With a paid up capital of Rs 1.78 arba , it has a reserve of Rs 1.05 arba and life insurance fund of Rs 7.17 arba.

As of the end of Q1, its EPS stands at Rs 15.25, net worth at Rs 158.96 and P/E ratio at 33.32 times.