Kathmandu. The National 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 statement, the company has earned a profit of Rs 15.4 million till the third quarter. The company had posted a net profit of Rs 24.5 million in the same period of the previous fiscal year. The company’s profit declined by 37.10 percent in the review period compared to the previous fiscal year.
The company has rs 30.5 million in disaster fund and Rs 623.3 million in retained earnings as of Mid-March of the current fiscal year. As of Mid-July last year, the disaster fund stood at Rs 24.6 million and retained earnings at Rs 484.6 million.
As of the review period, the company’s life insurance fund stood at Rs 59.88 billion. The life insurance fund stood at Rs 53.54 billion in the same period last year. The size of the company’s life insurance fund increased by 11.85 percent in the review period compared to the previous year.
Till the third quarter, the company has earned a total insurance premium of Rs 7.79 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 7.69 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 1.28 percent.
The company has earned a net insurance premium of Rs 7.73 billion during the review period. In the same period of the previous fiscal year, the company had earned Rs 7.68 billion in net insurance premium. Compared to the previous year, the company’s net insurance revenue has increased by 0.56 percent.
The company’s annualised earnings per share (EPS) declined to Rs 17.043 from Rs 181 million. Last year, the EPS was Rs 18.06.
