Kathmandu. Sun Nepal Life Insurance Company 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 328.9 million till the third quarter. The company had posted a net profit of Rs 493.6 million in the same period of the previous fiscal year. Compared to the previous fiscal year, the company’s profit decreased by 33.36 percent in the review period.
As of Mid-April of the current fiscal year, the company’s share premium stood at Rs 1.24 billion, disaster fund at Rs 182.7 million, retained earnings at Rs 819.4 million and other equities at Rs 292.7 million. As of Mid-July last year, the company had rs 1.26 billion in share premium, Rs 160.6 million in disaster fund, Rs 521.7 million in retained earnings and Rs 369.6 million in other equities. The disaster fund and retained earnings have increased during the review period as compared to the previous year.
As of the review period, the company’s life insurance fund stood at Rs 9.51 billion. In the same period last year, the life insurance fund stood at Rs 6.49 billion. The size of the company’s life insurance fund increased by 46.48 percent in the review period compared to the previous year.
Till the third quarter, the company has earned a total insurance premium of Rs 3.71 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 2.78 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 33.11 percent.
The company has earned a net insurance premium of Rs 3.34 billion during the review period. In the same period of the previous fiscal year, the company had earned Rs 2.49 billion in net insurance premium. The company’s net insurance revenue has increased by 34.37 percent compared to the previous year.
The company’s annualised earnings per share (EPS) declined to Rs 11.07 from Rs 3.96 billion in share capital. Last year, the EPS was Rs 20.57. The company has a net worth of Rs 164.23 per share with a PE ratio of 57.84 times.
