United Insurance reports increase in net profit in Q2; Annualzied EPS at Rs. 5.35
Wed, Feb 10, 2021 9:12 AM on Latest, Company Analysis,
United Insurance Company Limited (UIC) has published its second-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 35.69% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 2.74 crores in this quarter from Rs. 2.02 crores in the corresponding quarter.
As per the unaudited report for the 2nd quarter published today, United Insurance has a paid-up capital of Rs. 1.02 Arba with a reserve of Rs. 31.17 crores. The company has Rs. 32.44 crores in insurance fund.
The Net Premium increased by 49.35% to Rs. 26.30 crores in FY 2077/2078 from Rs. 17.61 crores in the corresponding quarter of the previous year. The company has earned Rs. 2.15 crores from income from investment, loans, and other headings.
The company’s Net claim increased by 22.37% to Rs. 7.99 crores in this quarter. The company’s number of policies stood at 27,490 till Q2 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 5.35 whereas Net worth per share stood at Rs. 141.77. The company traded at a P/B multiple of 3.74 times.
Major Highlights:
|
Particulars |
United Insurance Company Limited |
||
|
Q2, 2077/2078 |
Q2, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,028,160.00 |
1,028,071.00 |
0.01% |
|
Reserve & Surplus |
98,148.00 |
103,292.00 |
-4.98% |
|
Insurance Fund |
324,450.00 |
336,266.00 |
-3.51% |
|
Contingent Fund |
6,915.00 |
6,915.00 |
- |
|
Gross Premium |
576,882.00 |
356,847.00 |
61.66% |
|
Net Premium |
263,032.00 |
176,122.00 |
49.35% |
|
Re-Insurance Income |
61,999.00 |
45,990.00 |
34.81% |
|
Income from Investment, Loan and others |
21,564.00 |
17,568.00 |
22.75% |
|
Claim Payment (Net) |
79,923.00 |
65,313.00 |
22.37% |
|
Agent Commission |
13,985.00 |
7,816.00 |
78.93% |
|
Net Profit |
27,490.00 |
20,259.00 |
35.69% |
|
No. Of Policies |
71,891.00 |
50,900.00 |
- |
|
Annualized EPS (Rs.) |
5.35 |
3.94 |
- |
|
Net Worth Per Share |
141.77 |
143.43 |
- |
|
Price/Book Ratio (times) |
3.74 |
- |
- |
