Reliance Life Insurance reports 62.43% growth in net profit in Q1; both net premium and claim rises
Fri, Nov 6, 2020 5:51 AM on Company Analysis, Latest,
Reliance Life Insurance Limited (RLI) has published its first-quarter report of fiscal year 2077/2078 with an increase in Net Profit by a 62.43% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 3 crore in this quarter from Rs. 1.85 crore in the corresponding quarter.
As per the unaudited report for the first quarter published today, Reliance Life has a paid-up capital of Rs. 2.1 Arba with a reserve of Rs. 17.30 crores.
The company has Rs. 1.39 Arba in life insurance fund and Rs. 1.92 crore in the contingent fund.
The Net Premium rose by 91.98% to Rs. 46.52 crores in FY 2077/2078 from Rs. 24.23 crores in the corresponding quarter of the previous year. The company has earned Rs. 3.11 crores from income from investment, loans, and other headings.
The company’s Net claim increased to Rs. 6.78 crore in this quarter. The company’s number of policies stood at 4,138 till Q1 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 5.73 whereas Net worth per share stood at Rs. 109.15.
Major Highlights:
|
Particulars (In Rs '000) |
Relaince Life Insurance |
||
|---|---|---|---|
|
Q1 2077/78 |
Q1 2076/77 |
Difference |
|
|
Paid Up Capital |
2,100,000.00 |
1,470,000.00 |
42.86% |
|
Reserve and Surplus |
173,013.00 |
111,022.00 |
55.84% |
|
Life Insurance Fund |
1,395,661.00 |
565,241.00 |
146.91% |
|
Contingent Fund |
19,224.00 |
12,336.00 |
55.84% |
|
Net Premium |
465,230.00 |
242,337.00 |
91.98% |
|
Re-Insurance Income |
0.00 |
0.00 |
|
|
Income from Investment, Loan and others |
31,136.00 |
13,982.00 |
122.69% |
|
Claim Payment (Net) |
67,842.00 |
1,648.00 |
4016.63% |
|
Agent Commission |
90,879.00 |
48,797.00 |
86.24% |
|
Gross Profit |
5,596.00 |
2,977.00 |
87.97% |
|
Transferred to Life Insurance Fund |
254,752.00 |
131,929.00 |
93.10% |
|
Net Profit |
30,073.00 |
18,514.00 |
62.43% |
|
No of Policies |
4,138.00 |
2,955.00 |
40.03% |
|
EPS (In Rs.) |
5.73 |
5.04 |
13.70% |
|
Net Worth per Share (In Rs.) |
109.15 |
108.39 |
0.70% |
|
PE Ratio |
104.75 |
- |
- |
