Kathmandu. Sagarmatha Lumbini Insurance Company for the financial year 2082. The company has published its unaudited financial statements for the fourth quarter of FY83. According to the financial statements, the company’s profit and total insurance premium have decreased.
The company with Rs 2.62 billion in share capital stood at Rs 2.55 billion in special reserves, Rs 24.47 crore in catastrophe fund, Rs 34.79 crore in retained earnings and Rs 33.75 crore in other equities.
In the previous year, the company had collected Rs 2.55 billion in special reserves, Rs 213.4 million in catastrophe fund, Rs 463.2 million in retained earnings and Rs 521.8 million in other equities.
During the review period, the company earned a net profit of Rs 4.76 billion. The company had earned over Rs 5 billion in the same quarter last year. The company’s total premium income decreased by 4.91 percent in the review period compared to the previous year.
The company earned Rs 2.34 billion in net insurance premium in the review period. Compared to the previous fiscal year, the net insurance premium has increased by 10.71 percent. The company
had posted a net profit of Rs 2.11 billion in the same quarter last year.
In the review period, the company spent Rs 2.42 billion on reinsurance. In the same period of the last FY, the company had spent Rs 2.89 billion through reinsurance. Compared to the previous year, the company spent less money on reinsurance during the review period.
During the quarter under review, the company earned a net profit of Rs 31.30 crore. The company had posted a net profit of Rs 40.32 crore in the same quarter last year. The company’s profit declined in the review period compared to the previous year.
The company has EPS of Rs 11.94 crore. The net worth per share of the company is Rs 232.72.
