Kathmandu. Kathmandu: Nepal Life Insurance Company (NLIC) has released the revised financial statements for the third quarter of the current fiscal year (July-April).
According to the financial statements, the company has earned a profit of Rs 652.2 million till the third quarter. The company had posted a net profit of Rs 600 million in the same period of the previous fiscal year. The company’s profit has increased by 8.65 percent in the review period compared to the previous fiscal year.
As of Mid-April of the current fiscal year, the company has rs 1.32 billion in disaster fund, Rs 1.18 billion in retained earnings and Rs 725.7 million in other equities. As of Mid-July last year, the disaster fund stood at Rs 1.26 billion, retained earnings at Rs 1.92 billion and other equities at Rs 758.2 million.
As of the review period, the company’s life insurance fund stood at Rs 225.67 billion. In the same period last year, the life insurance fund stood at Rs 188.18 billion. The size of the company’s life insurance fund increased by 19.92 percent in the review period compared to the previous year.
Till the third quarter, the company has earned a total insurance premium of Rs 32.87 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 29.43 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 11.71 percent.
The company has earned Rs 32.50 billion in net insurance premium till the review period. In the same period of the previous fiscal year, the company had earned a net insurance premium of Rs 29.12 billion. The company’s net insurance revenue has increased by 11.61 percent compared to the previous year.
The company’s annualised earnings per share (EPS) declined to Rs 8.41 billion from Rs 9.02 billion. Last year, the EPS was Rs 9.75. The company has a net worth of Rs 135.81 per share with a PE ratio of 70.01 times.
