Sanima Life Insurance shows growth within two quarters; Earnings from premium amount at massive Rs 2.46 crore
Thu, May 10, 2018 2:27 AM on Financial Analysis, Latest, Stock Market,
Sanima Life Insurance Company Limited has reported a profit of Rs 6.80 crore for the Q3 of FY 2074/75. The earnings from premium of the company amounted to Rs 2.46 crore in the current quarter which was Rs 16.32 lakh in the third quarter of the current year.
The paid up capital of the company stands at Rs 1.40 arba and its reserve amounts to Rs 6.62 crore. It is still short of Rs 60 crore to maintain the paid up capital as directed by the Insurance Board.
The company has not yet maintained its Life Insurance Fund.
The insurance company has authorized and issued capital of Rs 3 arba and Rs 2 arba respectively. Out of Rs 2 arba issued capital, the company has separated Rs 1.40 arba paid up capital. In the upcoming days, the company will issue 30% or Rs 60 crore as IPO and maintain its paid up capital up to Rs 2 arba.
