Reliance Life Insurance reports 48.45% rise in net profit in Q4 of 2076/77; Company to issue IPO to general public soon
Fri, Aug 7, 2020 6:04 AM on Company Analysis, Latest,
Reliance Life Insurance Company published its unaudited financial report for the fourth quarter of the last fiscal year 2076/77 today.
The company has reported a net profit of Rs 4.33 crore in this quarter up from Rs 2.92 crore of the corresponding quarter of FY 2075/76 rising by 48.45%.
The insurance company collected Rs 1.36 arba as earnings from premium (net) in the Q4 of FY 2076/77 with an increment from last year's corresponding quarter that reported Rs. 73.11 crore.
The paid-up capital of the company is Rs 1.47 arba with Rs 14.32 crore in the reserve and surplus. It has Rs 1.14 arba in the life insurance fund of the company.
The company has been able to issue 17,889 insurance policies by the fourth quarter of fiscal year 2076/77.
Major Highlights:
|
Particulars (In Rs '000) |
Reliance Life Insurance |
||
|---|---|---|---|
|
Q4 2076/77 |
Q4 2075/76 |
Difference |
|
|
Paid Up Capital |
1,470,000.00 |
1,470,000.00 |
0.00% |
|
Reserve and Surplus |
143,278.00 |
106,658.00 |
34.33% |
|
Life Insurance Fund |
1,147,573.00 |
443,061.00 |
159.01% |
|
Contingent Fund |
15,920.00 |
11,851.00 |
34.33% |
|
Net Premium |
1,368,961.00 |
731,144.00 |
87.24% |
|
Income from Investment, Loan and others |
98,653.00 |
54,218.00 |
81.96% |
|
Claim Payment (Net) |
61,610.00 |
1,122.00 |
5391.09% |
|
Agent Commission |
256,470.00 |
157,902.00 |
62.42% |
|
Gross Profit |
14,777.00 |
11,035.00 |
33.91% |
|
Transferred to Life Insurance Fund |
730,519.00 |
399,240.00 |
82.98% |
|
Net Profit |
43,376.00 |
29,219.00 |
48.45% |
|
No of Policies |
17,889.00 |
15,602.00 |
14.66% |
|
Annualized EPS (In Rs.) |
2.95 |
1.99 |
48.45% |
|
Net Worth per Share (In Rs.) |
110.83 |
108.06 |
2.56% |
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