Citizen Life Insurance's Q2 FY 2080/81 Report Shows 2.73% Increase in Net Profit and Positive Financial Trends
Fri, Jan 26, 2024 10:13 AM on Financial Analysis, Company Analysis, Latest,
In the second quarter of the fiscal year 2080/2081, Citizen Life Insurance Company Limited (CLI) demonstrated positive financial performance. The net profit increased by 2.73%, rising from Rs. 12.36 crores to Rs. 12.03 crores compared to the same quarter last year.
The company's financial snapshot includes a paid-up capital of Rs. 3.75 Arba and a share premium of Rs. 1.55 Arba. Additionally, Citizen Life holds Rs. 68.95 crore in retained earnings, Rs. 65.12 crore in other equity, and Rs. 14.96 crore in catastrophe reserves.
Citizen Life experienced a 4.23% increase in net premium, reaching Rs. 2.57 Arba in the second quarter of FY 2080/81 compared to the previous year. The company generated Rs. 74.08 crores from income derived from investments, loans, and other financial activities.
However, there was an 18.21% increase in net claims, reaching Rs. 2.6 Arba in the same quarter of the fiscal year 2080/2081.
Key financial indicators include an annualized earnings per share (EPS) of Rs. 6.60 and a net worth per share of Rs. 181.13. The company's stock traded at a P/E multiple of 71.72 times.
Major Highlights:
| Particulars (In Rs '000) | Citizen Life Insurance | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 3,750,000.00 | 2,625,000.00 | 42.86% |
| Share Premium | 1,552,037.44 | 13,037.44 | 11804.47% |
| Catastrophe Reserves | 149,615.92 | 137,250.19 | 9.01% |
| Retained Earnings | 689,594.04 | 579,539.08 | 18.99% |
| Other Equity | 651,272.62 | 657,177.78 | -0.90% |
| Net Premium | 2,572,163.94 | 2,467,675.34 | 4.23% |
| Interest Income on Loan to Policyholders | 40,256.89 | 22,832.16 | 76.32% |
| Income from Investment, Loan and others | 740,806.26 | 489,452.92 | 51.35% |
| Claim Payment (Net) | 2,609,979.50 | 2,207,867.87 | 18.21% |
| Commission Expenses | 275,571.81 | 342,791.71 | -19.61% |
| Net Profit | 123,657.26 | 120,366.93 | 2.73% |
| Total inforce Policies count | 1,235,901.00 | 1,543,823.00 | -19.95% |
| Total No. of Policies Issued During Period | 386,293.00 | 794,130.00 | -51.36% |
| EPS (In Rs.) | 6.60 | 9.17 | -28.09% |
| Net Worth per Share (In Rs.) | 181.13 | 152.84 | 18.51% |
| PE Ratio | 71.72 | - | - |
