Prime Life Logs Decline in Net Insurance Premium and Net Profit

Nov 16, 2022 01:28 PM Merolagani

Prime Life Insurance (PLIC) has collected net insurance premium of Rs 1.14 billion in the first quarter of the current FY. The net insurance premium decreased by 1.95 percent compared to Rs 1.17 billion of the corresponding period of the last FY.

Similarly, the company earned Rs 480.9 million from investment, loans and other income and Rs 49.3 million from loan against policies of Rs 2.32 billion.

Meanwhile, its net profit declined by 57.12 percent to Rs 52.5 million compared to Rs 122.5 million of the corresponding period of the last FY.

The company with Rs 2.77 billion in paid-up capital has reserve fund of Rs 599.3 million, disaster fund of Rs 18.71 billion and insurance fund of Rs 19.89 billion.

The company logged EPS of Rs 7.56, net worth per share of Rs 128.30 and P/E ratio of 75.23 times.

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