Kathmandu. Asian 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 334.7 million till the third quarter. The company had posted a net profit of Rs 209.8 million in the same period of the previous fiscal year. The company’s profit increased by 59.51 percent in the review period compared to the previous fiscal year.
As of Mid-April of the current fiscal year, the company has rs 260.6 million in disaster fund, Rs 638.8 million in retained earnings and Rs 71.8 million in other equities. As of Mid-July last year, the disaster fund stood at Rs 227.2 million, retained earnings at Rs 340.9 million and other equities at Rs 46.2 million.
As of the review period, the company’s life insurance fund stood at Rs 45.63 billion. The life insurance fund stood at Rs 41.03 billion in the same period last year. The size of the company’s life insurance fund increased by 11.21 percent in the review period compared to the previous year.
Till the third quarter, the company has earned a total insurance premium of Rs 6.46 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 5.75 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 12.22 percent.
The company has earned a net insurance premium of Rs 6.37 billion during the review period. In the same period of the previous fiscal year, the company had earned Rs 5.61 billion in net insurance premium. The company’s net insurance revenue has increased by 13.61 percent compared to the previous year.
The company’s annualised earnings per share (EPS) increased to Rs 13.13 billion from Rs 3.39 billion. Last year, the EPS was Rs 8.23. The company has a net worth of Rs 128.57 per share with a PE ratio of 56.45 times.
