NLG Insurance Reports Incline in Business Volume and Profitability in Q2; Insurance Funds Stands at Rs 1.20 Arba
Mon, Feb 13, 2023 11:24 AM on Latest, Financial Analysis, Stock Market,
NLG Insurance Company Limited (NLG) published its second-quarter report for FY 79/80. The company posted a net profit of Rs 10.6 Crore against a net profit of Rs 11.4 Crore posted last year of the corresponding quarter. The net profit of NLG has increased by 3.63% in this quarter.
The paid-up capital of the company stands at Rs.1.32 arba which increased by 10% as compared to the previous year. The reserves and surplus stood at Rs 34.16 Crore as compared to Rs 36.59 Crore of corresponding quarter. The insurance fund of the company stands at Rs. 1.20 Arba and the contingent fund stands at Rs. 6.2 Crores.
Other key financials post by the company stand as follows:
Earnings per Share is Rs 16.08.
P/E ratio is 42.42 times.
Net worth per Share is Rs 221.15.
Its income from premium (net) has increased from Rs 42.7 crore to Rs 43.9 crore at the end of Q2 this year. Its income from reinsurance commission has decreased to Rs 17.5 crore from Rs 18.1 crore in the last corresponding quarter.
It has made claim payment worth Rs 23.24 crore and the number of policies for the quarter end stand at 100,653.
Major Financial Highlights
| Particulars (In Rs '000) | NLG Insurance Company | ||
|---|---|---|---|
| Q2 2079/80 | Q2 2078/79 | Difference | |
| Paid Up Capital | 1,326,614.00 | 1,206,013.00 | 10.00% |
| Reserve and Surplus | 341,693.00 | 365,983.00 | -6.64% |
| Insurance Fund | 1,202,950.00 | 1,076,493.00 | 11.75% |
| Contingent Fund | 62,509.00 | 51,239.00 | |
| Net Premium | 439,363.00 | 427,151.00 | 2.86% |
| Re-Insurance Income | 175,526.00 | 181,677.00 | -3.39% |
| Income from Investment, Loan and others | 28,580.00 | 30,399.00 | -5.98% |
| Claim Payment (Net) | 232,427.00 | 237,055.00 | -1.95% |
| Provision for Losses | 11,448.00 | 3,535.00 | 223.85% |
| Provision Written Back | 15,966.00 | ||
| Agent Commission | 25,741.00 | 30,583.00 | -15.83% |
| Net Profit | 106,652.00 | 102,924.00 | 3.62% |
| No of Policies | 100,653.00 | 114,651.00 | -12.21% |
| EPS (In Rs.) | 16.08 | 17.07 | -5.80% |
| Net Worth per Share (In Rs.) | 221.15 | 223.86 | -1.21% |
| PE Ratio | 42.42 | - | - |
