Gurans Life Insurance Reports Incline in Net Profit by 44.27%; Life Insurance Fund Stands at Rs. 12.45 Arba
Wed, Aug 17, 2022 11:45 AM on Latest, Financial Analysis, Stock Market,
Gurans Life Insurance Company Limited (GLICL) has published its fourth-quarter report for the fiscal year 2078/2079 with an increase in Net Profit by 44.27% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 17.5 crores in this quarter from Rs. 12.13 crores in the corresponding quarter.
As per the unaudited report for the fourth quarter published today, Gurans Life has a paid-up capital of Rs. 2.08 Arba with a reserve of Rs. 58.74 crores.
The company has Rs. 12.45 Arba in the life insurance fund and Rs. 7.50 crores in the contingent fund.
The Net Premium decreased by 16.13% to Rs. 3.05 Arba in FY 2078/2079 from Rs. 3.63 Arba in the corresponding quarter of the previous year. The company has earned Rs. 99.6 crores from income from investment, loans, and other headings.
The company’s Net claim increased by 145.72% to Rs. 1.62 Arba in this quarter. The company’s number of policies stood at 163,511 till Q4 of 2078/2079.
Its annualized earnings per share (EPS) stood at Rs. 8.40 whereas Net worth per share stood at Rs. 131.78. The company traded at a P/B multiple of 57.73 times.
Major Highlights:
| Particulars (In Rs '000") | Gurans Life Insurance | ||
|---|---|---|---|
| Q4 2078/79 | Q4 2077/78 | Difference | |
| Paid Up Capital | 2,084,250 | 1,975,585 | 5.50% |
| Reserve and Surplus | 587,420 | 538,488 | 9.09% |
| Life Insurance Fund | 12,450,024 | 10,593,921 | 17.52% |
| Contingent Fund | 75,055.00 | 57,544.00 | 0.00% |
| Net Premium | 3,050,076 | 3,636,841 | -16.13% |
| Income from Investment, Loan and others | 996,791 | 857,017 | 16.31% |
| Claim Payment (Net) | 1,628,515 | 662,745 | 145.72% |
| Agent Commission | 368,384 | 534,273 | -31.05% |
| Provision for Pending Claims | 2,082 | 3,071 | -32.20% |
| Transferred to Life Insurance Fund | 1,856,103 | 2,933,814 | -36.73% |
| Net Profit | 175,108 | 121,375 | 44.27% |
| No of Policies | 163,511 | 154,917 | 5.55% |
| EPS (In Rs.) | 8.40 | 8.19 | 2.56% |
| Net Worth per Share (In Rs.) | 131.78 | 130.17 | 1.24% |
| Qtr End PE Ratio | 57.73 | - | - |
| Qtr End Market Price | 485.00 | - | - |
