Union Life Insurance earns Rs 9.35 crore net profit in the fourth quarter; manages to earn Rs 76.22 crore from the premium

Tue, Aug 7, 2018 12:59 AM on Financial Analysis, Latest, Stock Market,

Union Life Insurance Company Limited (ULICL) has published its unaudited financial report for the fourth quarter of the FY 2074/75.

The life insurance company has reported a net profit of Rs 9.35 crore in the fourth quarter of the current year. It is a decrease from the net profit of Rs 9.88 crore earned in the previous quarter.

The company has stated it earnings from premium as Rs 76.22 crore which stood at Rs 39.06 crore in the third quarter.  

The IPO worth Rs 64.50 crore will be issued at face value of Rs 100 per share to the general public.. After the IPO, its paid-up capital will reach Rs 2.15 arba with promoter-general public shareholding structure at 70%-30%.

The paid up capital of the company is Rs 1.50 arba and the reserve fund of the company stands at Rs 9.86 crore. The company’s life insurance fund is reported as Rs 35.46 crore.