SuryaJyoti Life (SJLIC) Q3 Report Reveals Robust Growth ➤

SuryaJyoti Life (SJLIC) Q3 Report Reveals Robust Growth

SuryaJyoti Life Insurance Company (SJLIC) witnesses significant growth in net profit and earnings per share (EPS) during the third quarter of the current fiscal year

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.