United insurance reports massive increment in Net Profit in Q3; EPS at Rs. 6.84, Net worth per share at Rs. 144.01
Fri, May 7, 2021 8:17 AM on Latest, Financial Analysis,
United Insurance Company Limited (UIC) has published its third-quarter report of FY 2077/2078 with a massive increase in Net Profit by 334.93%. The company’s profit has increased from Rs. 1.21 crores to Rs. 5.27 crores in this quarter.
As per the unaudited report for the third quarter published today, UIC has a paid-up capital of Rs. 1.02 Arba with a reserve and surplus of Rs. 11.18 crores. The company has Rs. 33.37 crores in the insurance fund.
The net earnings from the premium increased by 53.12% to Rs. 37.85 crores till Q3, 2077/2078 from Rs. 24.71 crores in the corresponding quarter of the last fiscal year. The company has earned Rs. 4.43 crores from investments.
The company’s Net claim payment increased by 43.68% to Rs. 14.86 crores in Q3 of FY 2077/2078. Till this quarter, the company has issued 108,108 policies.
United Insurance’s EPS stands at Rs. 6.84 whereas Net worth per share stands at Rs. 144.01 in the third quarter of the fiscal year 2077/2078. The company traded at a P/B multiple of 4.98 times.
Major Highlights:
|
Particulars |
United Insurance Company Limited |
||
|---|---|---|---|
|
Q3, 2077/2078 |
Q3, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,028,160.00 |
1,028,160.00 |
0.00% |
|
Reserve & Surplus |
111,872.00 |
67,156.00 |
66.59% |
|
Insurance Fund |
333,738.00 |
296,437.00 |
12.58% |
|
Contingent Fund |
6,914.00 |
6,914.00 |
0.00% |
|
Gross Premium |
878,698.00 |
512,175.00 |
71.56% |
|
Net Premium |
378,516.00 |
247,198.00 |
53.12% |
|
Re-Insurance Income |
92,125.00 |
66,031.00 |
39.52% |
|
Income from Investment, Loan and others |
44,393.00 |
29,269.00 |
51.67% |
|
Claim Payment (Net) |
148,673.00 |
103,474.00 |
43.68% |
|
Agent Commission |
17,973.00 |
13,867.00 |
29.61% |
|
Net Profit |
52,757.00 |
12,130.00 |
334.93% |
|
No. Of Policies |
108,108.00 |
69,285.00 |
- |
|
Annualized EPS (Rs.) |
6.84 |
1.57 |
- |
|
Net Worth Per Share |
144.01 |
136.04 |
- |
|
Price/Book Ratio (times) |
4.98 |
- |
- |
