LICN’s life fund rises to Rs15.6 arba as policy holders surpass 4 lakh
Mon, Aug 11, 2014 12:00 AM on Others,
ShareSansar, August 11:
Life Insurance Corporation (Nepal) Limited has posted a massive net profit rise in the last fiscal year 2070/71 as compared to the previous fiscal year 2069/70.
According to the unaudited report for the fourth quarter just published by LICN, its net profit stands at Rs 2.7 crore as compared to Rs 27.73 crore in corresponding quarter.
But the figure of the corresponding quarter is an audited one, and going by the profit posted by LICN for the past three quarter as well as it life fund which has drastically increased by the fourth quarter, the audited profit figure for the fourth quarter will be much higher – higher than the previous fiscal year’s net profit.
The most encouraging aspect of LICN’s financial report for the fourth quarter is that its life fund has reached 15.68 arba over the year, up from Rs 11.77 arba at the end of the previous fiscal year.
It shows that its core business – the number of policies as well as profit from other business activities – have increased tremendously.
The number of policies has drastically increased to 40.5 lakh units, up from just 3.21 lakh units.
LICN’s EPS has now risen to Rs 4.17, P/E ratio to impressive 981 times and net worth per share at Rs 131.79.
