Kathmandu. Reliable Nepal Life Insurance has released the revised financial statements for the third quarter of the current fiscal year (July-April).
According to the financial statement, the company has earned a profit of Rs 465.7 million till the third quarter. The company had posted a net profit of Rs 340 million in the same period of the previous fiscal year. The company’s profit increased by 36.88 percent in the review period compared to the previous fiscal year.
As of Mid-April of the current fiscal year, the company’s share premium stood at Rs 1.75 billion, disaster fund at Rs 207.9 million, retained earnings at Rs 1.11 billion and other equities at Rs 75.3 million. As of Mid-July last year, share premium stood at Rs 1.75 billion, disaster fund at Rs 161.3 million, retained earnings at Rs 706.4 million and other equities at Rs 71.1 million. Compared to the previous year, the size of the Disaster Fund, retained earnings and other equities has increased.
As of the review period, the company’s life insurance fund stood at Rs 12.43 billion. The life insurance fund stood at Rs 9.16 billion in the same period last year. The size of the company’s life insurance fund increased by 35.71 percent in the review period compared to the previous year.
Till the third quarter, the company has earned a total insurance premium of Rs 3.69 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 2.98 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 23.75 percent.
The company has earned a net insurance premium of Rs 3.47 billion during the review period. In the same period of the previous fiscal year, the company had earned Rs 2.73 billion in net insurance premium. The company’s net insurance revenue has increased by 27.18 percent compared to the previous year.
The company’s annualised earnings per share (EPS) increased to Rs 13.38 billion from Rs 4.64 billion. Last year, the EPS was Rs 9.78. The company has a net worth of Rs 167.97 per share with a PE ratio of 39.88 times.
