SuryaJyoti Life Insurance Sees 3.37% Rise While Net Premium Grew By 19.83%; Income From Investment Stood at Rs. 1.76 Arba
Tue, Feb 4, 2025 12:00 PM on Latest, Financial Analysis, Company Analysis,
SuryaJyoti Life Insurance Company Limited (SJLIC) has reported a 3.37% increase in net profit, reaching Rs. 19.61 crores in the second quarter of the fiscal year 2081/82. The company's net premium surged by 19.83% to Rs. 4.98 Arba. Additionally, income from investments, loans, and other sources increased by 18.24% to Rs. 1.76 Arba.
The company’s life insurance fund expanded by 11.93% to Rs. 37.73 Arba, while total investments rose by 7.03% to Rs. 37.41 Arba. However, retained earnings witnessed a significant decline of 71.47%, falling to Rs. 32.82 crores, while other equity dipped by 1.93% to Rs. 45.98 crores.
On the expenses front, net claim payments increased by 22.26% to Rs. 5.63 Arba. Commission expenses also saw a 16.71% rise, amounting to Rs. 44.17 crores. Despite these cost pressures, the company maintained stable earnings, with an annualized earnings per share (EPS) of Rs. 7.83, reflecting a 3.37% increase.
SuryaJyoti Life Insurance’s net worth per share declined by 11.72% to Rs. 123.44, while its price-to-earnings (P/E) ratio stood at 56.73 times.
Major Highlights:
* Figure is of Immediate Fiscal Year Ending
| Particulars (In Rs '000) | SuryaJyoti Life Insurance Company | ||
|---|---|---|---|
| Q2 2081/82 | Q2 2080/81 | Difference | |
| Paid Up Capital | 5,011,947.80 | 5,011,947.80* | 0.00% |
| Share Premium | 0.00 | 0.00* | - |
| Catastrophe Reserves | 386,950.42 | 377,143.46* | 2.60% |
| Retained Earnings | 328,286.88 | 1,150,565.32* | -71.47% |
| Other Equity | 459,810.29 | 468,858.37* | -1.93% |
| Life Insurance Fund | 37,734,088.55 | 33,712,064.84 | 11.93% |
| Investments | 37,417,084.85 | 34,959,986.74 | 7.03% |
| Net Premium | 4,981,595.96 | 4,157,181.72 | 19.83% |
| Income from Investment, Loan and others | 1,769,325.96 | 1,496,434.47 | 18.24% |
| Claim Payment (Net) | 5,638,838.67 | 4,612,355.47 | 22.26% |
| Commission Expenses | 441,784.41 | 378,537.79 | 16.71% |
| Net Profit | 196,139.16 | 189,748.18 | 3.37% |
| Annualized EPS (In Rs.) | 7.83 | 7.57 | 3.37% |
| Net Worth per Share (In Rs.) | 123.44 | 139.84 | -11.72% |
| PE Ratio | 56.73 | - | - |
