Prime life reported 24.10% increment in profitability in Q2; EPS at Rs. 16.02
Mon, Feb 1, 2021 7:49 AM on Latest, Company Analysis,
Prime Life Insurance Company Limited (PLIC) has published its second-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 24.10% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 19.36 crores in this quarter from Rs. 15.60 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. 61.72 Arba.
The company has Rs. 13.09 Arba in life insurance fund and Rs. 14.67 crores as Contingent Fund.
The Net Premium rose by 27.01% to Rs. 2.00 Arba in FY 2077/2078 from Rs. 15.81 Arba in the corresponding quarter of the previous year. The company has earned Rs. 55.25 crores from income from investment, loans, and other headings.
The company’s Net claim decreased by 63.34% to Rs. 9.07 crores in this quarter. The company’s number of policies stood at 254,976 till Q2 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 16.02 whereas Net worth per share stood at Rs. 131.61. The company traded at a P/B multiple of 6.16 times.
Major Highlights:
|
Particulars |
Prime Life Insurance Company Limited |
||
|---|---|---|---|
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
2,417,057.00 |
2,007,939.00 |
20.38% |
|
Reserve & Surplus |
617,271.00 |
1,044,781.00 |
-40.92% |
|
Insurance Fund |
13,096,043.00 |
10,135,438.00 |
29.21% |
|
Contingent Fund |
146,775.00 |
128,985.00 |
13.79% |
|
Gross Premium |
2,030,313.00 |
1,597,440.00 |
27.10% |
|
Net Premium |
2,008,056.00 |
1,581,055.00 |
27.01% |
|
Re-Insurance Income |
0.00 |
0.00 |
- |
|
Income from Investment, Loan and others |
552,565.00 |
435,894.00 |
26.77% |
|
Claim Payment (Net) |
496,112.00 |
303,721.00 |
63.34% |
|
Agent Commission |
230,219.00 |
165,735.00 |
38.91% |
|
Net Profit |
193,657.00 |
156,054.00 |
24.10% |
|
No. Of Policies |
254,976.00 |
330,039.00 |
- |
|
Annualized EPS (Rs.) |
16.02 |
15.54 |
- |
|
Net Worth Per Share |
131.61 |
158.46 |
- |
|
Price/Book Ratio (times) |
6.16 |
- |
- |
