Prudential Insurance still 55.76% sort of Paid-up requirement; EPS of the company stands at Rs 20.73; Know all major highlights of Q1 report

Prudential Insurance Company Limited (PICL) has reported a decent rise in its net profit by 31.17% in the first quarter of the ongoing fiscal year 2075/76. Publishing the financial report today, it stated net profit of Rs 3.32 crore in Q1 of the FY 2075/76, up from Rs 2.52 crore in the corresponding quarter of the FY 2074/75.

An insurance company's income from net premium has also increased from Rs 12.69 crore to Rs 13.77 crore at the end of Q1 this year and its income from reinsurance commission has decreased from Rs 6.86 crore in corresponding quarter of last fiscal year to Rs 5.79.

It's paid up capital stands at Rs 64.15 crore with a reserve of Rs 19.32 crore. Its insurance fund stands at Rs 42.18 crore.  As per an Insurance Board's directive, all non-life insurance company had to increase its capital to Rs 1 arba by the end of Ashad 2075, however, the company was unable to meet the set requirement.

PICL have to hike its capital by Rs 35.80 crore (around 55.88%) to meet the Rs 1 arba paid-up requirement. So an investor can expect a bonus and right issue from an insurance company. Its annualized earning per share stands at Rs 20.73, net worth per share at Rs 195.88 and P/E ratio at 35.23 times.