SuryaJyoti Life Insurance Company Unveils Stellar Q2 Report with 62.93% Surge in Net Profit; EPS at Rs. 10.41
Mon, Feb 5, 2024 8:43 AM on Financial Analysis, Company Analysis, Latest,
SuryaJyoti Life Insurance Company Limited (SJLIC) reported impressive results for the second quarter of the fiscal year 2080/2081. The company witnessed a substantial 62.93% surge in net profit, soaring to Rs. 23.66 crores from Rs. 14.52 crores compared to the corresponding quarter last year.
SJLIC's financial snapshot showcases a paid-up capital of Rs. 4.54 Arba and a share premium of Rs. 3.72 Crores. Complementing this, the company holds Rs. 1.4 Arba in retained earnings, Rs. 1.18 Arba in other equity, and Rs. 33.13 crores in catastrophe reserves.
Notably, SuryaJyoti Life experienced a 63.59% increase in net premiums, reaching Rs. 4.15 Arba in Q2 FY 2080/81 compared to the previous year. The company showcased its financial acumen by generating Rs. 1.49 Arba from income derived from investments, loans, and other financial activities.
However, the quarter also witnessed a 78.55% increase in net claims, reaching Rs. 1.87 Arba.
Key financial indicators underline the company's performance with an annualized earnings per share (EPS) of Rs. 10.41, net worth per share of Rs. 165.15, and a P/E ratio of 51.87 times.
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | SuryaJyoti Life Insurance Company | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 4,545,572.10 | 4,545,572.10* | 0.00% |
| Share Premium | 37,201.86 | 37,201.86* | 0.00% |
| Catastrophe Reserves | 331,373.77 | 319,462.26* | 3.73% |
| Retained Earnings | 1,406,619.52 | 1,182,820.92* | 18.92% |
| Other Equity | 1,186,085.14 | 1,172,369.06* | 1.17% |
| Net Premium | 4,157,181.72 | 2,541,254.87 | 63.59% |
| Interest Income on Loan to Policyholders | 177,291.90 | 123,798.34 | 43.21% |
| Income from Investment, Loan and others | 1,496,434.47 | 767,903.63 | 94.87% |
| Claim Payment (Net) | 4,705,754.93 | 2,635,515.15 | 78.55% |
| Commission Expenses | 378,537.79 | 257,746.83 | 46.86% |
| Net Profit | 236,630.89 | 145,232.97 | 62.93% |
| Total inforce Policies count | 985,685.00 | 934,071.00 | 5.53% |
| EPS (In Rs.) | 10.41 | 6.39 | 62.93% |
| Net Worth per Share (In Rs.) | 165.15 | 159.66 | 3.44% |
| PE Ratio | 51.87 | - | - |
