Prime Life Insurance reports massive rise in profit of 218.64%; EPS stands at Rs 37.76

Prime Life Insurance Company Limited has posted outstanding 218.64% rise in net profit for the second quarter of the current fiscal year 2074/75. It has earned net profit of Rs 11.51 crore in the Q2 of current fiscal year, up from Rs 3.61 crore in the corresponding period last year. As per the unaudited report for the first quarter published today, PLIC has a paid up capital of Rs 61.02 crore with reserve of Rs 93.41 crore. The net earnings from premium rose to Rs 93.35 crore in Q2 from Rs 76.75 crore in the corresponding quarter. Likewise, the company’s insurance fund has increased to Rs 5.57 arba from Rs 4.17 arba in the corresponding quarter. The company managed to increase its number of policy holders to 5.30 lakh from 5.49 lakh in the corresponding quarter. Its annualized EPS has stands at Rs 37.76, net worth per share at Rs 266.56 and P/E ratio is 45.82 times. The company is floating 160% right to its shareholders to meet the minimum paid up capital of Rs 2 billion by the end of 2074/75 FY. The issue is in pipeline status in SEBON. Afterwards, the paid up capital of the company will reach Rs 158.6 crores. Report