Kathmandu. Citizen Life Insurance has released the revised financial statements for the third quarter of the current fiscal year. According to the financial statements, most of the company’s indices have shown impressive progress.
The company, which has a share capital of Rs 5 billion, has kept Rs 449.6 million under the share premium head till the third quarter of the current fiscal year. There is Rs 211.2 million in disaster fund, Rs 984.5 million in retained earnings and Rs 700 million in other equities.
The company had posted a net profit of Rs 357.6 million in the third quarter. The company had posted a net profit of Rs 281.3 million in the same period of the previous fiscal year. The company’s profit has increased by 27 percent in the review period compared to the previous fiscal year.
Till the third quarter, the company has earned a total insurance premium of Rs 5.08 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 4.24 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 19 percent.
The company has earned a net insurance premium of Rs 4.81 billion during the review period. In the same period of the previous fiscal year, the company had earned a net insurance premium of Rs 3.99 billion. Net insurance revenue has increased by 20.67 percent compared to the previous year.
During the review period, the company spent Rs 266.2 million through reinsurance. In the same period last year, the company had spent Rs 252.6 million through reinsurance.
At the end of the review period, the company’s life insurance fund stood at Rs 18.02 billion. In the same period of the previous year, the company’s life insurance fund stood at Rs 12.51 billion. The size of the company’s life insurance fund has increased compared to the previous year.
The company’s annualized earnings per share (EPS) is Rs 9.54. The PE ratio is 52.16 times. The net worth of the company is Rs 146.91 per share.
