Core business fuels profit for PLIC, NLIC, SICL & SIC while SLICL's profit drops
Wed, Feb 12, 2014 12:00 AM on Others,
ShareSansar, February 12:
Prime Life Insurance Company Limited, Nepal Life Insurance Company Limited, Shikhar Insurance Company Limited and Sagarmath Insurance Company Limited today reported impressive profit growth in the second quarter of the current fiscal year 2070/71 while Surya Life Insurance Company Limited has reported a dip in profit.
As per the unaudited quarterly report of Prime Life , its net profit has risen to Rs 5.94 crore in the second quarter, up from Rs 2.43 crore in the corresponding quarter of the last fiscal year— a huge rise of 144.44 percent .
The profit is attributable to the insurer’s operational profit, which surged to Rs 7.53 crore, up from Rs 3.61 crore in the corresponding quarter.
Its EPS has now reached Rs 24.36 and its net worth per share stands at Rs 178.90.
Likewise, Nepal Life has reported a net profit of Rs 13.86 crore, up from Rs 8.02 crore in the corresponding quarter, which is 72.81 percent profit rise.
Its profit is also attributed to its core business as its regular income has surged to Rs 17.96 crore, up from Rs 10.36 crore in the corresponding quarter.
Its EPS is now at Rs 43.50 and the net worth per share at Rs 224.88.
Similarly, Shikhar Insurance has reported a profit rise of 15.93 percent as its net profit has risen to Rs 4.51 crore, up from Rs 3.89 crore in the corresponding quarter.
Its profit was also propelled by its operational profit as it earned Rs 7.66 crore from its regular business up from Rs 6.59 crore.
Shikhar Insurance’s EPS (annualized) has reached 51.65 and its net worth per share stands at 240.74.
Sagarmatha Insurance has reported a modest profit growth of 2.52 percent as its net profit has increased from Rs 7.31 crore in the second quarter, up from Rs 7.13 crore in the corresponding quarter. Its income rose to Rs 11.94 crore, up from Rs 11.55 in the second quarter of the last fiscal.
Its EPS stands at Rs 28.33 and its net worth per share at Rs 220.80.
On the other hand, Surya Life Insurance has reported a drop of 117.46 percent in its profit plummeted from Rs 3.61 crore in the corresponding quarter to Rs 1.66 crore in the second quarter of the current fiscal.
The profit was affected as its income from the regular business decreased to Rs 2.18 crore, down from Rs 4.57 crore in the corresponding quarter.
Now Surya Life’s EPS (annualized) stands at just Rs 3 while its net worth per share is priced at Rs 119.29.
