Prime Life Insurance reported a negative profit growth of 21% in Q2 of FY 2075/76; The number of policyholders decreased by 8%

Prime Life Insurance Company Limited (PLIC) net profit has decreased by 21.37% in the second quarter of the current fiscal year 2075/76. The company earnings have decreased from Rs 11.51 crore in the Q2 of the last fiscal year to Rs 9.05 crore in Q2 of FY 2075/76.

As per the unaudited report for the second quarter published today, PLIC has a paid up capital of Rs 1.78 arba with a reserve of Rs 97.90 crore, the company has raised the Paid-Up capital by 192.5% in last one year. The Life Insurance Company has to increase its paid-up by 12% to meet NRB minimum paid-up requirement criteria of Rs 2 arba for the life insurance company.

The net earnings from premium rose to Rs 1.22 arba in Q2 of FY 75/76 from Rs 93.35 crore in the corresponding quarter of last fiscal year.

Likewise, the company’s insurance fund has increased from Rs 5.57 arba to Rs 7.68 arba in this quarter.

The company has reported a decrement in the number of policyholders from 5.30 lakh in the corresponding quarter to 4.86 lakh in Q2 of the current fiscal year.

It's annualized EPS and net worth per share stands at Rs 10.14 and at Rs 154.85. The P/E ratio of the company according to the report is at 49.29.

LTP of the Stock stands at Rs 490.