Prabhu Mahalaxmi Life Insurance Posts 25.74% Profit Growth; Annualized EPS Rose to Rs. 10.69 and Net Premium Risen by 4.18%
Mon, Nov 11, 2024 11:22 AM on Latest, Financial Analysis, Company Analysis,
Prabhu Mahalaxmi Life Insurance Company Limited (PMLI) has recorded a substantial increase in net profit, reporting a 25.74% growth for Q1 2081/82 compared to the same period last year. The company's net profit rose to Rs. 12.62 crore, driven by increases in premium income, investment returns, and effective management of expenses.
The insurer's net premium income reached Rs. 1.17 Arba, a 4.18% rise from Q1 2080/81. This was complemented by a remarkable 187.51% surge in interest income on loans to policyholders, which totaled Rs. 3.18 crore. Additionally, income from investments, loans, and other sources saw a 12.86% increase, amounting to Rs. 30.44 crore.
Prabhu Mahalaxmi Life Insurance also reported a growth of 8.23% in its Life Insurance Fund, bringing it to Rs. 11.13 Arba. The company’s paid-up capital increased by 10%, now standing at Rs. 4.72 Arba.
However, some declines were noted. Retained earnings dropped by 34.89%, and net worth per share decreased by 6.05% to Rs. 119.34. On the positive side, the total in-force policy count reached 1,85,478, marking an 8.38% rise, showing steady growth in the customer base.
The company’s PE ratio for the quarter stands at 53.58, with an annualized EPS of Rs. 10.69, reflecting a 14.31% increase from the prior year.
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Prabhu Mahalaxmi Life Insurance Company | ||
|---|---|---|---|
| Q1 2081/82 | Q1 2080/81 | Difference | |
| Paid Up Capital | 4,725,600.00 | 4,296,000.00* | 10.00% |
| Share Premium | 19,352.49 | 19,352.49* | - |
| Catastrophe Reserves | 96,946.61 | 90,634.72* | 6.96% |
| Retained Earnings | 622,553.59 | 956,100.58* | -34.89% |
| Other Equity | 175,292.71 | 95,120.64* | 84.28% |
| Life Insurance Fund | 11,133,454.50 | 10,286,987.19* | 8.23% |
| Net Premium | 1,172,960.11 | 1,125,858.93 | 4.18% |
| Interest Income on Loan to Policyholders | 31,778.00 | 11,052.97 | 187.51% |
| Income from Investment, Loan and others | 304,443.59 | 269,754.58 | 12.86% |
| Claim Payment (Net) | 1,151,434.36 | 1,025,558.82 | 12.27% |
| Commission Expenses | 113,973.82 | 135,163.21 | -15.68% |
| Net Profit | 126,237.81 | 100,396.50 | 25.74% |
| Total inforce Policies count | 185,478.00 | 171,141.00 | 8.38% |
| Annualized EPS (In Rs.) | 10.69 | 9.35 | 14.31% |
| Net Worth per Share (In Rs.) | 119.34 | 127.03 | -6.05% |
| PE Ratio | 53.58 | - | - |
