LIC Nepal earns Rs 85.80 lakh in Q1; EPS mere Rs 3.20

Life Insurance Corporation (Nepal) Limited (LICN) has reported net profit dwindled by 48.15% in the first quarter of the current fiscal year 2073/74. As per the unaudited report for the first quarter, the insurance company reported net profit of Rs.85.80 lakh in Q1 of fiscal year 2073/74, down from Rs.1.65 crore in the corresponding period last year. The company allocated money for provision for possible loss of Rs 63 lakh which has affected on net profit. The company’s earnings from premiums rose to Rs 1.77 arba in Q4 from Rs 1.34 arba in the corresponding quarter. LICN has paid up capital of Rs. 1.06 arba. The reserve fund of the company has slightly inclined to Rs.18.85 crore in Q1 from Rs.18.13 crore in the same quarter previous fiscal year. The company’s insurance fund has risen to Rs. 28.40 arba from Rs. 21.84 arba in Q1. LIC Nepal annualized earning per share (EPS) stands at Rs 3.20, net worth per share at Rs.117.54 and P/E ratio at 4,299 times.