SuryaJyoti Life Insurance Sees 146.03% Jump in Q4 Profit to Rs. 39.65 Crores; EPS at Rs. 7.91
Mon, Aug 12, 2024 9:18 AM on Financial Analysis, Company Analysis, Latest,
SuryaJyoti Life Insurance Company Limited (SJLIC) has announced impressive financial results for the fourth quarter of the fiscal year 2080/2081, with a substantial 146.03% increase in net profit, reaching Rs. 39.65 crores, up from Rs. 16.11 crores in the same quarter of the previous year.
The company’s financial stability is highlighted by a paid-up capital of Rs. 5.01 Arba and significant reserves, including Rs. 56.95 crores in retained earnings, Rs. 61.52 crores in other equity, and Rs. 34.68 crores in catastrophe reserves. Net premiums surged by 27.47%, totaling Rs. 9.10 Arba compared to the previous year.
SJLIC also generated Rs. 3.11 Arba from investments, loans, and other financial activities. However, the quarter saw a 33.62% rise in net claims, amounting to Rs. 10.01 Arba.
Key financial metrics include an annualized earnings per share (EPS) of Rs. 7.91, a net worth per share of Rs. 130.56, and a P/E ratio of 54.34 times.
Major Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | SuryaJyoti Life Insurance Company | ||
|---|---|---|---|
| Q4 2080/81 | Q4 2079/80 | Difference | |
| Share Capital | 5,011,947.80 | 4,545,572.10* | 10.26% |
| Share Premium | 0.00 | 37,201.86* | - |
| Catastrophe Reserves | 346,816.49 | 326,989.61* | 6.06% |
| Retained Earnings | 569,567.91 | 1,329,786.42* | -57.17% |
| Other Equity | 615,284.14 | 1,026,417.64* | -40.06% |
| Insurance Fund | 33,637,584.84 | 27,299,317.19* | 23.22% |
| Investment | 34,964,949.07 | 28,932,719.46* | 20.85% |
| Net Premium | 9,105,948.89 | 7,143,767.88 | 27.47% |
| Income from Investment, Loan and others | 3,111,808.34 | 2,199,603.12 | 41.47% |
| Claim Payment (Net) | 10,017,223.24 | 7,496,938.02 | 33.62% |
| Commission Expenses | 870,371.08 | 762,002.05 | 14.22% |
| Net Profit | 396,537.45 | 161,173.48 | 146.03% |
| No of Policies | 1,009,072.00 | 1,130,575.00 | -10.75% |
| EPS (In Rs.) | 7.91 | 3.55 | 123.14% |
| Net Worth per Share (In Rs.) | 130.56 | 159.85 | -18.32% |
| PE Ratio | 54.34 | ||
| Solvency Ratio | 3.00 | - | - |
