National Life Insurance Company Shines with a 16.91% Surge in Q2 Net Profit, Net Premiums Soar by 11.32%
Tue, Feb 6, 2024 8:09 AM on Financial Analysis, Company Analysis, Latest,
National Life Insurance Company Limited (NLICL) has reported a 16.91% surge in net profit, reaching Rs. 25.51 crores compared to Rs. 21.82 crores in the corresponding quarter last year.
NLICL has a paid-up capital of Rs. 5.01 Arba and a share premium of Rs. 2.78 Crores. Additionally, the company boasts Rs. 60.18 Crores in retained earnings, Rs. 48.83 Crores in other equity, and Rs. 49.63 crores in catastrophe reserves.
In terms of operational performance, NLICL witnessed an 11.32% increase in net premiums, reaching Rs. 8.38 Arba in Q2 FY 2080/81 compared to the previous year. The company showcased its financial acumen by generating Rs. 43.54 Crores from income derived from investments, loans, and other financial activities.
However, the quarter also saw a 12.33% increase in net claims, amounting to Rs. 9.44 Arba.
Key financial indicators underscore with an annualized earnings per share (EPS) of Rs. 10.18, net worth per share of Rs. 132.21, and a P/E ratio of 59.21 times.
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | National Life Insurance Company Limited | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 5,011,666.43 | 5,011,666.43* | 0.00% |
| Share Premium | 27,848.72 | 27,848.72* | 0.00% |
| Catastrophe Reserves | 496,397.86 | 470,882.36* | 5.42% |
| Retained Earnings | 601,878.08 | 375,510.53* | 60.28% |
| Other Equity | 488,350.56 | 497,264.87* | -1.79% |
| Investments | 63,454,799.57 | 58,731,143.07* | 8.04% |
| Net Premium | 8,387,369.20 | 7,534,721.53 | 11.32% |
| Income from Investment, Loan and others | 435,408.80 | 252,538.51 | 72.41% |
| Claim Payment (Net) | 9,440,089.50 | 8,404,205.61 | 12.33% |
| Commission Expenses | 767,435.77 | 739,376.85 | 3.79% |
| Employees Benefit Expenses | 236,180.94 | 161,774.62 | 45.99% |
| Other Operating Expenses | 384,368.47 | 360,269.24 | 6.69% |
| Net Profit | 255,154.98 | 218,248.69 | 16.91% |
| Total Inforce Policy Count | 1,592,776.00 | 1,545,880.00 | 3.03% |
| Annualized EPS (In Rs.) | 10.18 | 8.71 | 16.91% |
| Net Worth per Share (In Rs.) | 132.21 | 127.37 | 3.81% |
| PE Ratio | 59.21 | - | - |
