Surya Jyoti Life Insurance Company has reported a net profit of Rs 12.8 crore in the first quarter of the current fiscal year. This is an increase of around 11 percent compared to the same period last year when the company had earned Rs 11.53 crore.
The company’s total income rose from Rs 3.52 billion to Rs 3.95 billion during the review period. Similarly, total expenses also went up from Rs 3.36 billion to Rs 3.76 billion.
Net interest income saw a mild rise from Rs 2.45 billion to Rs 2.91 billion.
However, claim payments also increased notably. The company paid out Rs 3.26 billion in claims this quarter, up from Rs 2.84 billion during the same time last year.
Retained earnings increased from Rs 933.8 million to Rs 1.04 billion. The company’s disaster fund now stands at Rs 425.7 million.
In the same period, Surya Jyoti Life earned Rs 681.6 million in first premium income and issued a total of 67,172 policies.
By the end of the first quarter, the company’s earnings per share (EPS) stood at Rs 9.78, while net worth per share was Rs 134.42. The total asset value per share reached Rs 1,035.67.
