Asian Life Insurance Company Posts Impressive 254.92% Surge in Q3 Net Profit to Rs. 69.11 Crores; EPS Rose to Rs. 29.20
Sun, May 12, 2024 12:12 PM on Latest, Financial Analysis, Company Analysis,
Asian Life Insurance Company Limited (ALICL) has disclosed its robust financial performance for the third quarter of the fiscal year 2080/2081, showcasing a remarkable surge of 254.92% in net profit. The company's net profit soared to Rs. 69.11 crores, marking a substantial increase from the Rs. 19.47 crores recorded in the corresponding quarter of the previous fiscal year.
ALICL maintains a significant paid-up capital of Rs. 3.15 Arba and notable reserves, comprising Rs. 92.09 Crores in retained earnings, Rs. 3.82 lakhs in other equity, and Rs. 26.34 Crores in catastrophe reserves.
During the reviewed period, ALICL experienced a remarkable incline of 10.50% in net premiums, reaching Rs. 5.61 Arba in Q3 FY 2080/81 compared to the previous year. Additionally, the company demonstrated financial astuteness by generating Rs. 2.52 Arba from income derived from investments, loans, and other financial activities.
However, the quarter also witnessed a noteworthy 6% increase in net claims, totaling Rs. 6.84 Arba. Similarly, commission expenses declined by 3.87%, reaching Rs. 50.15 Crores.
Key financial metrics further underscore ALICL's performance, with an annualized earnings per share (EPS) of Rs. 29.20. Moreover, the net worth per share stands at Rs. 138.75, while the Price-to-Earnings (P/E) ratio stood at 19.19 times.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Asian Life Insurance Company | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Share Capital | 3,155,300.52 | 3,155,300.52* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Catastrophe Reserves | 263,456.56 | 194,345.89* | 35.56% |
| Retained Earnings | 920,976.17 | 305,891.24* | 201.08% |
| Other Equity | 38,202.03 | 20,403.27* | 87.23% |
| Insurance Fund | 41,470,862.03 | 37,665,818.11* | 10.10% |
| Investment | 39,686,252.66 | 34,484,325.25* | 15.08% |
| Net Premium | 5,614,778.62 | 5,081,266.17 | 10.50% |
| Income from Investment, Loan and others | 2,520,706.53 | 2,327,689.92 | 8.29% |
| Claim Payment (Net) | 6,848,721.06 | 6,461,340.50 | 6.00% |
| Commission Expenses | 501,541.09 | 521,717.96 | -3.87% |
| Net Profit | 691,106.66 | 194,722.25 | 254.92% |
| No of Policies | 636,285.00 | 618,337.00 | 2.90% |
| EPS (In Rs.) | 29.20 | 8.23 | 254.92% |
| Net Worth per Share (In Rs.) | 138.75 | 116.50 | 19.10% |
| PE Ratio | 19.19 | ||
| Solvency Ratio | 2.21 | - | - |
