Prabhu Mahalaxmi Life Insurance (PMLI) has unveiled its third-quarter financial report for the current fiscal year, showcasing substantial growth in net profit despite a decline in earnings per share (EPS).
According to the report, PMLI achieved a remarkable increase in net profit during the period, reaching Rs 268.9 million, reflecting a significant growth of 38.75 percent compared to Rs 193.8 million in the corresponding period.
Throughout the review period, the company witnessed impressive growth in various financial metrics. Net insurance premium surged by 102.84 percent, while total income soared by 109.05 percent. Additionally, net claim payments increased by 140.26 percent, and total expenses rose by 117.21 percent.
Despite the positive momentum in net profit, PMLI experienced a decline in EPS during the period, recording Rs 8.35. The company’s price-to-earnings (P/E) ratio stood at 61.31 times, with a net worth of Rs 123.35.
With a substantial paid-up capital of Rs 4.29 billion, PMLI maintains a robust financial position with various funds, including a share premium fund of Rs 19.3 million, catastrophic fund of Rs 87.6 million, retained earnings of Rs 755.5 million, and other equity of Rs 123.2 million.
PMLI’s latest financial report underscores its resilience and growth trajectory in the life insurance sector, positioning the company as a key player in the industry.
