Asian Life Insurance hikes Q3 earning by 45.61% to Rs 2.96 crore; EPS at mere Rs 4.91

Asian Life Insurance Company Limited (ALICL) has reported 45.61 percent growth in net profit in the third quarter of the ongoing fiscal year 2073/74. As per the unaudited financial statement of the life insurance company published today, it has posted net profit of Rs 2.96 crore in the third quarter of the fiscal year 2073/74 up from Rs 2.03 crore in the same period last year. ALICL’s net premium earnings has increased by 15.97% in the current quarter. It has earned Rs 1.60 arba in Q3 this year, whereas the figure stood at Rs 1.38 arba last year. It has transferred Rs 1.68 arba of savings to life insurance fund. ALICL has paid claims worth Rs 46.47 crore this year, while it has pending claims of Rs 1.15 crore. Likewise, its number of policies has reached 2.17 lakhs. Its paid up capital stands at Rs 80.55 crore with insurance fund of Rs 9.42 arba. Its reserve fund has declined to Rs 17.74 crore in Q3 from Rs 19.23 crore in the corresponding quarter. Its Earning per Share (EPS) now stands at Rs 4.91, networth per share is at Rs 146.43 and P/E ratio at 329.78 times. However, this earning will likely increase after the actuarial valuation of the insurance fund at the end of fiscal year.