Prabhu & Premier Insurance reports growth of 239.84% & 40.73% respectively in Q3

Prabhu Insurance Limited (PRIN) has posted a massive profit growth of 239.84 percent in the third quarter of the fiscal year 2072/73. According to the unaudited financial report for the third quarter published today, its net profit surged to Rs 9.35 crore in third quarter up from Rs 2.75 crore in the corresponding quarter of the previous fiscal year. The company’s net earnings from premiums grew to Rs 31.20 crore in Q3 from Rs 27.82 crore in the same quarter last year. The company income has increased and expenditure under the title claim payment and agent commission has decreased. The insurance company has paid up capital of Rs 32.90 crore and reserve of Rs 8.23 crore The number of policy holder decreased to 48.96 thousand from 59.29 thousand in Q3. PRIN’s EPS stand at Rs 28, P/E ratio is at 26 times and net worth per share at Rs 192. Likewise, Premier Insurance Company Limited (PIC) has registered profit growth of 40.73 percent in the third quarter of the current fiscal year 2072/73. According to the unaudited financial report for the third quarter the non-life insurer has published today, its net profit surged to Rs 8.54 crore in third quarter of the current fiscal year as compared to Rs 6.07 crore in the corresponding quarter of the previous fiscal year. The company’s net earnings from premiums grew to Rs 31.99 crore in Q3 from Rs 20.73 crore in the same quarter last year. The insurance company has paid up capital of Rs 37.37 crore. The reserve fund has reached 13.32 crore in Q3, up from Rs 10.19 crore in the corresponding quarter of the previous fiscal year. Insurance fund has increases by 14.10 crore in Q3, up from 11.06 crore in previous quarter. The number of policy holders has drastically increased to 78.53 thousand by the end of this quarter from 43.41 thousand reported in the same period of last year. PIC’s EPS stand at Rs 22.87, P/E ratio is at 54.23 times and net worth per share at Rs 173.39.