Prabhu Life Insurance Increases Both Net Insurance Premium and Net Profit Significantly

May 06, 2021 12:46 PM Merolagani

Prabhu Life Insurance (PLI) that recently issued IPO has published the third quarter financial report of the current FY. As per the report, it has increased both net insurance premium and net profit significantly.

The company has earned Rs 1.08 billion in net insurance premium compared to Rs 504.8 million of the corresponding period of the last FY. Similarly, its earned Rs 185.9 million from loan, investment and other income.

During the period,  its net profit also increased by 148.34 percent to Rs 137.8 million compared to Rs 55.5 million of the last FY.

The company with Rs 2 billion in paid-up capital has reserve fund of Rs 366 million, life insurance fund of Rs 1.76 billion and catastrophic fund of Rs 25.7million.

The company has EPS of Rs 9.19, net worth per share of Rs 207.88 and P/E ratio of 87.05 times.

During the period, the company issued 107,316 insurance policies and earned a total of 1.13 billion in total insurance premium. The company paid Rs 53.41 million to 204 policies and has outstanding payment of Rs 7.5 million to 10 claims.

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