SuryaJyoti Life Insurance Company Limited (SJLIC) recently disclosed its financial results for the third quarter of the fiscal year 2080/2081, demonstrating a notable 33.89% increase in net profit. The net profit rose to Rs. 29.54 crores from Rs. 22.06 crores in the corresponding quarter of the previous year.
SJLIC’s financial overview displays a paid-up capital of Rs. 4.54 Arba and a share premium of Rs. 3.72 Crores. Additionally, the company holds substantial reserves, including Rs. 1.6 Arba in retained earnings, Rs. 1.02 Arba in other equity, and Rs. 34.17 crores in catastrophe reserves.
During the quarter, SuryaJyoti Life experienced a significant uptick of 38.68% in net premiums, reaching Rs. 6.37 Arba in Q3 FY 2080/81 compared to the previous year. The company showcased its financial prowess by generating Rs. 2.28 Arba from income derived from investments, loans, and other financial activities.
However, the quarter also saw a noteworthy 51.67% increase in net claims, totaling Rs. 7.15 Arba.
Key financial metrics highlight SJLIC’s performance, including an annualized earnings per share (EPS) of Rs. 8.67, net worth per share of Rs. 166.31, and a P/E ratio of 56.89 times.
SJLIC recently concluded its 16th Annual General Meeting on 21st Baisakh, 2081, where it approved a 10.26% bonus shares and 24.74% cash dividend for tax purposes.
