Rise in claim payment resulting meager decline in net profit of Prime Life Insurance; net profit stands at Rs 29.85 crore in Q4
Sun, Aug 9, 2020 6:21 AM on Company Analysis, Latest,
Prime Life Insurance Company Limited (PLIC)'s net profit has decreased by meager 4.64% in the fourth quarter of the fiscal year 2076/77. The company earnings have decreased from Rs 31.30 crore to Rs 29.85 crore in Q4 of the FY 2076/77.
As per the unaudited report for the fourth quarter published today, PLIC has a paid-up capital of Rs 2.25 arba with a reserve of Rs 88.98 crore.
The company has Rs 11.47 arba in life insurance fund and Rs 13.94 crore in the contingent fund.
The net earnings from premium rose to Rs 3.26 arba till Q4 of FY 2076/77 from Rs 2.86 arba in the corresponding quarter of the last fiscal year. The company has earned Rs 91.02 crore from investment, loans and other headings.
The company net claim payment rises by 64.59% to Rs 65.32 crore till Q4. The company’s number of policyholders decreased from 3.55 lakh in the corresponding quarter to 2.90 lakh till Q4.
It's EPS and net worth per share stands at Rs 13.22 and Rs 145.56. The P/E ratio of the company according to the report is at 40.18 times.
Major Highlights:
* net profit figure is without the profit generated from the actuarial valuation of assets and liabilities.
|
Particulars (In Rs '000) |
Prime Life Insurance |
||
|---|---|---|---|
|
Q4 2076/77 |
Q4 2075/76 |
Difference |
|
|
Paid Up Capital |
2,258,932.00 |
1,784,835.00 |
26.56% |
|
Reserve and Surplus |
889,823.00 |
1,245,446.00 |
-28.55% |
|
Life Insurance Fund |
11,476,651.00 |
8,904,146.00 |
28.89% |
|
Contingent Fund |
139,410.00 |
123,571.00 |
12.82% |
|
Net Premium |
3,262,598.00 |
2,867,403.00 |
13.78% |
|
Re-Insurance Income |
0.00 |
0.00 |
|
|
Income from Investment, Loan and others |
910,231.00 |
773,670.00 |
17.65% |
|
Claim Payment (Net) |
653,207.00 |
396,870.00 |
64.59% |
|
Agent Commission |
350,981.00 |
332,882.00 |
5.44% |
|
Gross Profit |
190,217.00 |
149,332.00 |
27.38% |
|
Transferred to Life Insurance Fund |
2,537,593.00 |
2,342,677.00 |
8.32% |
|
Net Profit* |
298,564.00 |
313,097.00 |
-4.64% |
|
No of Policies |
290,538.00 |
355,744.00 |
-18.33% |
|
EPS (In Rs.) |
13.22 |
17.54 |
-24.66% |
|
Net Worth per Share (In Rs.) |
145.56 |
176.70 |
-17.62% |
|
PE Ratio |
40.18 |
- |
- |
|
Qtr End Price |
531.00 |
|
|
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