Prime Life Insurance reports satisfactory performance for Q1 of FY 2076/77; Annualized EPS at Rs 19.97
Wed, Nov 13, 2019 12:26 PM on Financial Analysis, Latest, Stock Market,
Prime Life Insurance Company Limited (PLIC) net profit has increased by 47.35% in the first quarter of the fiscal year 2076/77. The company earnings have increased from Rs 6.80 crore to Rs 10.02 crore in Q1 of the FY 2076/77. The net profit figure is without the profit generated from the actuarial valuation.
As per the unaudited report for the first quarter published today, PLIC has a paid-up capital of Rs 2 arba with a reserve of Rs 2.03 arba.
The company has Rs 9.51 arba in life insurance fund and Rs 12.66 crore in the contingent fund.
The net earnings from premium rose by 23.32% to Rs 75.75 crore till Q1 of FY 2076/77 from Rs 61.43 crore in the corresponding quarter of the last fiscal year. The company has earned Rs 20.20 crore from investment, loans and other headings.
The company net claim payment rises by 48.32% to Rs 13.16 crore till Q1. The company’s number of policyholders decreased from 4.61 lakh in the corresponding quarter to 3.60 lakh in Q1.
It's annualized EPS and net worth per share stands at Rs 19.97 and Rs 158. The P/E ratio of the company according to the report is at 16.12 times.
Major Highlights:
| Particulars (In Rs '000) | Prime Life Insurance | ||
|---|---|---|---|
| Q1 2076/77 | Q1 2075/76 | Difference | |
| Paid Up Capital | 2,007,939 | 1,784,835 | 12.50% |
| Reserve and Surplus | 2,037,997 | 960,501 | 112.18% |
| Life Insurance Fund | 9,510,785 | 7,177,793 | 32.50% |
| Contingent Fund | 126,615 | 91,910 | 37.76% |
| Net Premium | 757,591 | 614,343 | 23.32% |
| Income from Investment, Loan and others | 202,068 | 180,426 | 11.99% |
| Claim Payment (Net) | 131,686 | 88,788 | 48.32% |
| Agent Commission | 77,505 | 64,095 | 20.92% |
| Net Profit | 100,255 | 68,037 | 47.35% |
| No of Policies | 360,598 | 461,386 | -21.84% |
| Annualized EPS (In Rs.) | 19.97 | 15.25 | 30.98% |
| Net Worth per Share (In Rs.) | 158 | ||
| Qtr End PE Ratio | 16.12 | ||
.png)
