National Life Insurance Net Profit Rises by Impressive 57.70% , Life Insurance Fund at Rs 56.15 Arba & Net Worth Per Share at Rs 113.76
Fri, Feb 10, 2023 4:03 PM on Latest, Financial Analysis, Stock Market,
National Life Insurance Company Limited (NLICL) has published its second-quarter report of the fiscal year 2079/2080 with a incline in Net Profit by 57.70% compared to the corresponding quarter of the previous year. The company’s net profit increased to Rs. 22.73 crores in this quarter from Rs. 14.41 crores in the corresponding quarter.
As per the unaudited report for the second quarter published today, National Life has a paid-up capital of Rs. 4.64 Arba with a reserve of Rs. 26.65 crores.
The company has Rs. 56.15 Arba in life insurance fund and Rs. 37.20 crores in the contingent fund.
The Net Premium rose by 10.84% to Rs. 7.53 Arba in FY 2079/2080 from Rs 6.79 Arba in the corresponding quarter of the previous year. The company has earned Rs. 2.12 arba from income from investment, loans, and other headings. NLICL reports write back for possible losses amounting to Rs. 70.53 Lakh for this period.
The company’s Net claim increased by 44.84% to Rs. 3.72 arba till this quarter. The company’s number of policies stood at 1,702,279 till Q2 of 2079/2080.
Its annualized earnings per share (EPS) stood at Rs. 9.80 whereas Net worth per share stood at Rs. 113.76. The company traded at a P/E multiple of 65.92 times.
Major Highlights:
| Particulars (In Rs '000) | National Life Insurance | ||
|---|---|---|---|
| Q2 2079/80 | Q2 2078/79 | Difference | |
| Paid Up Capital | 4,640,431.88 | 3,390,889.20 | 36.85% |
| Reserve and Surplus | 266,539.32 | 1,012,266.87 | -73.67% |
| Life Insurance Fund | 56,159,134.71 | 47,211,235.72 | 18.95% |
| Contingent Fund | 372,068.47 | 312,321.36 | 19.13% |
| Net Premium | 7,534,721.53 | 6,797,792.81 | 10.84% |
| Re-Insurance Income | 22,604.17 | 20,393.38 | 10.84% |
| Income from Investment, Loan and others | 2,128,045.91 | 1,694,013.41 | 25.62% |
| Claim Payment (Net) | 3,720,555.22 | 2,568,700.41 | 44.84% |
| Provision Written Back | 7,053.48 | 2,588.72 | 172.47% |
| Agent Commission | 739,376.85 | 754,138.50 | -1.96% |
| Transferred to Life Insurance Fund | 5,003,801.61 | 4,786,988.58 | 4.53% |
| Net Profit | 227,375.99 | 144,186.03 | 57.70% |
| No of Policies | 1,702,279.00 | 1,082,476.00 | 57.26% |
| EPS (In Rs.) | 9.80 | 8.50 | 15.23% |
| Net Worth per Share (In Rs.) | 113.76 | 139.06 | -18.19% |
| PE Ratio | 65.92 | - | - |
