Prabhu Insurance Raises Net Profit above Rs 10 Mn

Nov 18, 2019 12:37 PM Merolagani

Prabhu Insurance (PRIN) has earned a net profit of Rs 41 million in the first quarter of the current FY compared to Rs 30.4 million of the corresponding period of the last FY.

During the period, the company earned net insurance premium of Rs 169.8 million compared to Rs 174.2 million of the review period of the last FY.

In the review period, the company earned Rs 53.3 million from reinsurance commission and Rs 12.2 million from investment, loan and other income.

The company with Rs 1 billion in paid-up capital has reserve fund of Rs 267.4 million, insurance fund of Rs 586.1 million and disaster fund of Rs 106.3 million.

The company has collected Rs 298.1 million in total insurance premium by issuing 18,871 insurance policies. It paid Rs 141.3 million to 1,888 claims and has outstanding payment of Rs 150.7 million to 509 claims.

The company maintained EPS of Rs 4, net worth per share of Rs 185 and P/E ratio of 75 times.


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