Kathmandu. Sagarmatha Lumbini Insurance Company for the financial year 2082. The company has made public the unrevised financial statements for the second quarter (July-December) of 83 B.S.
According to the financial report, the company has earned a net profit of Rs 3.73 crore in the first six months of the current FY. Previous fiscal year 2081. The company had posted a net profit of Rs 6.58 crore in the same period. The company’s net profit declined by 43.29 percent in the review period compared to the previous year. The loss of insured assets caused by natural disasters and the Genji movement seems to have contracted the company’s profit.
The company has a paid-up capital of Rs 2.62 billion, with special reserve of Rs 2.55 billion, catastrophe fund of Rs 21.71 crore, retained earnings of Rs 10.29 crore and other equity of Rs 47.15 crore. As of mid-July last year, the company had a special reserve of Rs 2.55 billion, a catastrophe fund of Rs 21.34 crore, a retained earnings of Rs 46.32 crore and other equity of Rs 52.18 crore.
During the review period, the company earned Rs 2.30 billion in total insurance premiums. The company had earned Rs 1,835,000 in insurance premiums in the same quarter last year. The company’s total premium increased by 25.41 percent compared to the previous year.
Similarly, the company has collected Rs 1.16 billion in net insurance premium during the period. The company had posted a net premium of Rs 71.91 crore in the same period last year. Compared to the previous year, the company’s net premium has increased by 61.94 percent.
As of mid-January of the current FY, the company has reported an annual earnings per share (EPS) of Rs 2.85. Last year, the EPS was Rs. 10.04. The net worth per share of the company stands at Rs 227.43.
