Premier Insurance profit grows by 52 percent in the second quarter

INVESTOPAPER

Premier Insurance has published an unaudited second quarterly report of fiscal year 2076/77.

The non-life insurance company has reported an increase in net profit by 51.78 percent in the second quarter as compared to the last year’s corresponding quarter. It has earned a net profit of 8.94 crores, up from 5.89 crores in the corresponding quarter.

On the other hand, the net premium has declined by 3.46 percent to 40.16 crores from 41.6o crores. The total premium collection has increased by 23.51 percent to 98.24 crores until the second quarter. The company has paid a net claim of 26.54 crores in the first six months of the fiscal year 2076/77. The total outstanding claim stands at Rs. 162.69 crores which is a 67.77 percent growth from the corresponding quarter.

With paid-up capital of 107.46 crores, the company has reserve and surplus amounting to Rs. 21.02 crores. The insurance fund stands at Rs. 54.02 crores in the second quarter.

Likewise, the company has an earning per share (EPS) of Rs.16.64 and net worth per share is Rs. 174.48.

The financial highlights of the second quarter can be summarized below:

FINANCIAL HIGHLIGHTS OF PREMIER INSURANCE, SECOND QUARTER, FISCAL YEAR 2076/77

HEADINGS 2ND QTR, 2076/77 2ND QTR, 2075/76 PERCENT CHANGE
Paid-up Capital (Rs. ‘crores’) 107.46 58.4 84.01
Reserve & Surplus (Rs. ‘crores’) 21.02 60.11 -65.03
Insurance Fund  (Rs. ‘crores’) 54.02 43.01 25.60
Total Investments  (Rs. ‘crores’) 282.36 222.17 27.09
Total Premium (Rs. ‘crores’) 98.24 79.54 23.51
Net Premium  (Rs. ‘crores’) 40.16 41.6 -3.46
Net Claim (Rs. ‘crores’) 26.54 24.05 10.35
Total Outstanding Claim (Rs. ‘crores’) 162.69 96.97 67.77
Net Profit  (Rs. ‘crores’) 8.94 5.89 51.78
Earnings Per Share (Rs.) 16.64
Networth Per Share (Rs.) 174.48
MARKET PRICE PER SHARE (Rs.) [Poush end, 2076] 364
P/E RATIO 21.88

Note:

The above figures are based on the unaudited second-quarter report published by the respective company. Investors are advised to take other things into consideration along with this report while making investment decisions. The numbers may vary after the final audit.

Note: The share price, as well as the P/E ratio, is based on the data of Poush end, 2076. At current, the numbers may vary.

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