Core business fuels profit for NLIC, PLIC, NLICL and ALICL in Q3

ShareSansar, May 13:

Nepal Life Insurance Company Limited, Prime Life Insurance Company Limited, National Life Insurance Company Limited and Asian Life insurance Company Limited today reported impressive profit growth in the third quarter of the current fiscal year 2070/71.

As per the unaudited quarterly report of Nepal Life, one of the leading life insurers has reported a net profit of Rs 18.29 crore, up from Rs 13.49 crore in the corresponding quarter, which is 35.58 percent profit rise.

NLIC had reported 72.81 percent profit rise in the second quarter.

Its profit is attributed to its core business as its regular income has surged to Rs 5.05 arba, up from Rs 3.50 arba in the corresponding quarter.

It has also provisioned Rs 6.68 crore for the outstanding claim to be paid at the end of the year, and Rs 40.25 crore for the unexpired risk.

Its EPS now stands at Rs 38.27, the net worth per share at Rs 224.88, and the P/E ratio now stands at 135.18.

NLIC’s life insurance fund has now reached Rs 15.70 crore.

Similarly, Prime Life has stated that its net profit has risen to Rs 9.29 crore by the end of the third quarter, up from Rs 5.08 crore in the corresponding quarter of the last fiscal year— a surge of 82.87 percent .

PLIC registered an income of Rs 1.22 arba by the end of the third quarter, up from Rs 97.08 crore in the corresponding quarter.

Its provisioning for the outstanding claim by the quarter end at the end of the year stands at Rs 34 lakh, and Rs 35.55 crore for the unexpired risk.

PLIC’s EPS has now reached Rs 25.38, net worth per share is priced at Rs 185.75 and the P/E ratio stands at 29.44.

Likewise, National Life Insurance Company Limited and Asian Life insurance company have also registered profit rise in the third quarter.

NLICL and ALICL have posted the growth of 65.14 percent and 19.61 percent respectively in their net profit by the end of the third quarter.

NLICL has stated that its net profit has increased to Rs 11.56 crore up from Rs 7 crore. Likewise, ALICL stated a slight increase in net profit to Rs 2.44 crore up from 2.04 crore compared to the corresponding quarter of the last fiscal year 2069/70.

The increment in the operational profit of NLICL to Rs 10.63 crore up from Rs 5.95 crore has fueled the net profit as compared to the corresponding quarter. Whereas, increase in the ALICL’s income from loan and investment to Rs 3.59 crore from Rs 2.62 crore mainly accompanied the rise in net profit.

There is increase in the insurance fund for NLICL from Rs 8.22 arba to Rs 9.37 arba and the reserve and surplus also increased to Rs 47.81 crore from Rs 7.74 crore.

Similarly, ALICL also raised their insurance fund to Rs 4.1 arba from Rs 2.1 arba along with that, the reserves and surplus have increased to 27.89 crore from Rs 15.01 crore as compared to corresponding quarter of the last fiscal year 2069/70.

NLICL’s EPS stands at Rs 30.76; net worth per share is Rs. 195.37 and the P/E ratio 87.13 times. Likewise, ALICL’s EPS is Rs 6.53; net worth per share is Rs 156.11 and the P/E ratio 138.82 times.