Sanima Reliance Life Insurance Q3 Report: Net Profit Surges 92.94%, Net Premiums Rise 117.07%, Investment Income at Rs. 1.12 Arba
Fri, May 10, 2024 9:02 AM on Financial Analysis, Company Analysis, Latest,
Sanima Reliance Life Insurance Limited (SRLI) has disclosed its impressive financial results for the third quarter of the fiscal year 2080/2081, demonstrating a notable surge of 92.94% in net profit. The company's net profit soared to Rs. 30.48 crores, marking a substantial increase from the Rs. 15.79 crores recorded in the corresponding quarter of the previous fiscal year.
SRLI boasts a significant paid-up capital of Rs. 4.18 Arba. Additionally, the company maintains notable reserves, comprising Rs. 99.72 Crores in retained earnings, Rs. 50.93 lakhs in other equity, and Rs. 12.69 Crores in catastrophe reserves.
During the reviewed period, SRLI experienced a remarkable incline of 117.07% in net premiums, reaching Rs. 4.01 Arba in Q3 FY 2080/81 compared to the previous year. Demonstrating financial astuteness, the company generated Rs. 1.12 Arba from income derived from investments, loans, and other financial activities.
However, the quarter also witnessed a noteworthy 137.21% increase in net claims, totaling Rs. 3.83 Arba. Similarly, commission expenses rose by 88.63%, reaching Rs. 43.31 Crores.
Key financial metrics further underscore SRLI's performance, with an annualized earnings per share (EPS) of Rs. 9.71. Moreover, the net worth per share stands at Rs. 126.99, while the Price-to-Earnings (P/E) ratio stood at 46.22 times.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Sanima Reliance Life Insurance | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Share Capital | 4,184,000.00 | 4,184,000.00* | 0.00% |
| Share Premium | 0.00 | 0.00 | - |
| Catastrophe Reserves | 126,909.39 | 96,426.20* | 31.61% |
| Retained Earnings | 997,272.50 | 726,542.56* | 37.26% |
| Other Equity | 5,093.02 | 31,618.56* | -83.89% |
| Insurance Fund | 13,553,683.20 | 10,917,624.85* | 24.14% |
| Investment | 17,195,833.39 | 14,170,581.85* | 21.35% |
| Net Premium | 4,014,133.04 | 1,849,258.69 | 117.07% |
| Income from Investment, Loan and others | 1,126,952.22 | 464,296.83 | 142.72% |
| Claim Payment (Net) | 3,838,207.49 | 1,618,045.81 | 137.21% |
| Commission Expenses | 433,132.96 | 229,621.43 | 88.63% |
| Net Profit | 304,831.92 | 157,994.90 | 92.94% |
| No of Policies | 933,112.00 | 1,076,968.00 | -13.36% |
| EPS (In Rs.) | 9.71 | 5.03 | 92.94% |
| Net Worth per Share (In Rs.) | 126.99 | 120.43 | 5.45% |
| PE Ratio | 46.22 | ||
| Solvency Ratio | 2.56 | - | - |
