Premier Insurance profit rises by 51.88% to Rs 8.93 crore; both net premium and no. of policies decline in Q2
Thu, Feb 13, 2020 8:09 AM on Financial Analysis, Stock Market, Latest,
Premier Insurance Company Limited (PIC) has earned a net profit of Rs 8.93 crore till the Q2 of FY 2076/77. The profit of the company has increased by 51.88% in this quarter compared to the corresponding quarter of last fiscal year.
As per the unaudited report published today, the net earnings from premium has decreased by meager 3.46% to Rs 40.15 crore from Rs 41.59 crore in the corresponding quarter of last fiscal year.
The insurance company has a paid-up capital of Rs 1.07 arba with a reserve of Rs 21.02 crore in Q2 of 2076/77.
Likewise, the company’s insurance fund has increased to Rs 54.02 crore from Rs 43.01 crore in the corresponding quarter of last fiscal year.
The insurance company has issued a total of 81,884 insurance policies, which is a decline of 20.59%.
As per second quarter, the annualized EPS of the insurance company stands at Rs 16.64 with net worth per share of Rs 174.48. The quarter end PE Ratio stands at 21.88 times.
Major Highlights:
|
Particulars (In Rs '000) |
Premier Insurance Company |
||
|---|---|---|---|
|
Q2 2076/77 |
Q2 2075/76 |
Difference |
|
|
Paid Up Capital |
1,074,560.00 |
584,000.00 |
84.00% |
|
Reserve and Surplus |
210,236.00 |
601,053.00 |
-65.02% |
|
Insurance Fund |
540,229.00 |
430,134.00 |
25.60% |
|
Contingent Fund |
49,875.00 |
38,961.00 |
28.01% |
|
Net Premium |
401,581.00 |
415,972.00 |
-3.46% |
|
Re-Insurance Income |
119,647.00 |
99,459.00 |
20.30% |
|
Income from Investment, Loan and others |
45,033.00 |
38,109.00 |
18.17% |
|
Claim Payment (Net) |
265,414.00 |
240,501.00 |
10.36% |
|
Agent Commission |
11,336.00 |
13,745.00 |
-17.53% |
|
Gross Profit |
81,130.00 |
55,546.00 |
46.06% |
|
Net Profit |
89,394.00 |
58,860.00 |
51.88% |
|
No of Policies |
81,884.00 |
103,121.00 |
-20.59% |
|
Annualized EPS (In Rs.) |
16.64 |
20.16 |
-17.46% |
|
Net Worth per Share (In Rs.) |
174.48 |
283.24 |
-38.40% |
|
PE Ratio |
21.88 |
- |
- |
|
Qtr End Price |
364.00 |
- |
- |
