Prime Life Insurance Reports Stagnant Profitability In First Quarter; Look At The Major Financial Highlights
Wed, Nov 17, 2021 10:27 AM on Company Analysis, Latest,
Prime Life Insurance Company Limited (PLIC) has published its first-quarter report of the fiscal year 2078/2079 with an increase in Net Profit by meagre 1.49% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 12.25 crores in this quarter from Rs. 12.07 crores in the corresponding quarter.
As per the unaudited report for the first quarter published today, PLIC has a paid-up capital of Rs. 2.41 Arba with a reserve of Rs. 80.29 crores.
The company has Rs. 15.72 Arba in life insurance fund and Rs. 16.74 crores as Contingent Fund.
The Net Premium rose by 9.80% to Rs. 1.17 Arba in this quarter from Rs. 1.06 Arba in the corresponding quarter of the previous year. The company has earned Rs. 30.91 crores from income from investment, loans, and other headings.
The company’s Net claim decreased by 4.44 % to Rs. 25.46 crores in this quarter. The company’s number of policies stood at 202,616 till Q1 of 2078/2079.
Its annualized earnings per share (EPS) stood at Rs. 20.28 whereas Net worth per share stood at Rs. 140.15. The company traded at a P/E multiple of 41.31 times.
Major Highlights:
|
Particulars |
Prime Life Insurance Limited |
Difference |
|
|---|---|---|---|
|
Q1, 2078/2079 |
Q1, 2077/2078 |
||
|
Paid-up capital |
2,417,057.00 |
2,258,932.00 |
7.00% |
|
Reserve & Surplus |
802,939.00 |
906,001.00 |
-11.38% |
|
Insurance Fund |
15,724,682.00 |
12,374,206.00 |
27.08% |
|
Contingent Fund |
167,405.00 |
141,207.00 |
18.55% |
|
Gross Premium |
1,183,359.00 |
1,077,480.00 |
9.83% |
|
Net Premium |
1,170,092.00 |
1,065,703.00 |
9.80% |
|
Income from Investment, loan, and others |
309,165.00 |
272,785.00 |
13.34% |
|
Claim Payment (Net) |
254,604.00 |
266,446.00 |
-4.44% |
|
Agent Commission |
113,023.00 |
122,821.00 |
-7.98% |
|
Net Profit |
122,575.00 |
120,774.00 |
1.49% |
|
No. of Policies |
202,616.00 |
274,197.00 |
-26.11% |
|
Annualized EPS |
20.28 |
21.39 |
-5.15% |
|
Net worth per share |
140.15 |
146.36 |
-4.24% |
|
Price to Earnings Ratio (times) |
41.31 |
- |
- |
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