SuryaJyoti Life Insurance Company (SJLIC) has recently unveiled its third-quarter report for the ongoing fiscal year, showcasing impressive financial performance. The report highlights a substantial surge in net profit and earnings per share (EPS), indicating the company’s strong foothold in the market.
According to the disclosed figures, SJLIC recorded a remarkable growth in its net profit and EPS during the specified period compared to the corresponding period of the previous fiscal year. The company witnessed a net profit of Rs 295.4 million, marking a significant 33.89 percent increase from Rs 220.6 million reported in the last fiscal year.
The third-quarter review period also showcased notable increments in various financial aspects of SJLIC. The net insurance premium surged by 38.68 percent, while the total income witnessed a substantial growth of 44.19 percent. Additionally, there was a remarkable increase of 51.67 percent in net claim payments and a 44.57 percent rise in total expenses, underlining the company’s robust financial performance.
Despite the rapid growth, SJLIC maintained a stable EPS of Rs 8.67, a P/E ratio of 56.89 times, and a net worth per share of Rs 166.31. These figures indicate the company’s consistent profitability and financial strength in the market.
SJLIC, with a paid-up capital of Rs 4.54 billion, also boasts a share premium of Rs 37.2 million, a catastrophic fund of Rs 341.7 million, retained earnings amounting to Rs 1.60 billion, and other equities totaling Rs 1.02 billion. These financial indicators portray SJLIC as a financially robust entity, well-positioned for sustained growth and market leadership in the insurance sector.
