Prudential Insurance Logs Decline in Net Profit along with Premium Collection

Feb 13, 2023 01:09 PM Merolagani

Prudential Insurance (PICL) has earned a net profit of Rs 40.1 million in the second quarter of the current FY.

The net profit decreased by 43.24 percent compared to Rs 70.7 million of the corresponding period of the last FY.

During the period, the company collected net insurance premium of Rs 204.8 million. The net insurance premium decreased by 21.43 percent compared to Rs 260.6 million of the corresponding period of the last FY. 

Moreover, the company earned Rs 79 million from reinsurance commission and Rs 20.2 million from investment, loans and other income.

 The company with Rs 1.18 billion in paid-up capital has reserve fund of Rs 285.9 million and an insurance fund of Rs 698.9 million and catastrophic fund of Rs 26.8 million.

The company logged EPS of Rs 13.55, net worth per share of Rs 297.21 and P/E ratio of 35.06 times.

 

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