Sagarmatha Lumbini Insurance Company Posts 15.97% Surge in Net Profit to Rs. 20.08 Crores in Q2; Net Claims Down By 8.56%
Mon, Feb 12, 2024 10:58 AM on Latest, Financial Analysis, Company Analysis,
Sagarmatha Lumbini Insurance Company Limited (SALICO) has reported a 15.97% increase in its net profit to reach Rs. 20.08 crore in the current quarter, as opposed to Rs. 17.31 crore in the corresponding quarter of the previous year.
SALICO has a paid-up capital of Rs. 2.62 Arba with Rs. 25.65 Crores in retained earnings, Rs. 42.16 Crores in other equity, and Rs. 17.27 Crores in catastrophe reserves. The company upholds an insurance fund of Rs. 7.74 Arba and holds a formidable investment portfolio amounting to Rs. 6.59 Arba.
In the second quarter of the fiscal year 2080/81, SALICO exhibited an impressive 4.32% surge in net premiums, reaching a substantial figure of Rs. 79.59 Crores compared to the previous year. The company's financial acumen was further underscored by Rs. 20.63 Crores from income derived from investments, loans, and other financial activities.
However, the company witnessed an 8.56% decrease in net claims, totaling Rs. 59.08 Crores.
SALICO's annualized earnings per share (EPS) stood at Rs. 15.32, net worth per share stood at Rs. 232.45, and a P/E ratio of 47.92 times.
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Sagarmatha Lumbini Insurance Company | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Share Capital | 2,622,638.20 | 2,622,638.20* | 0.00% |
| Special Reserves | 2,622,638.20 | 2,550,483.62* | 2.83% |
| Catastrophe Reserves | 172,768.87 | 167,747.77* | 2.99% |
| Retained Earnings | 256,599.47 | 135,319.81* | 89.62% |
| Other Equity | 421,634.66 | 456,120.61* | -7.56% |
| Insurance Fund | 7,740,669.58 | 7,399,201.60* | 4.61% |
| Investment | 6,591,409.62 | 6,225,267.24* | 5.88% |
| Net Premium | 795,939.33 | 763,010.13 | 4.32% |
| Income from Investment, Loan and others | 206,351.00 | 176,266.12 | 17.07% |
| Claim Payment (Net) | 590,865.75 | 646,201.87 | -8.56% |
| Commission Expenses | 19,705.01 | 19,549.02 | 0.80% |
| Net Profit | 200,843.97 | 173,190.81 | 15.97% |
| No of Policies | 148,092.00 | 114,642.00 | 29.18% |
| Annualized EPS (In Rs.) | 15.32 | 13.21 | 15.97% |
| Net Worth per Share (In Rs.) | 232.45 | 226.20 | 2.76% |
| PE Ratio | 47.92 | ||
| Solvency Ratio | 4.09 | - | - |
