Life Insurance Corporation (Nepal) (LICN) Publishes Q3 Report of FY 2079/80 with Improvements in Net Profit; EPS increased To Rs. 4.21
Thu, May 11, 2023 12:25 PM on Latest,
Life Insurance Corporation (Nepal) Limited (LICN)’s reported a massive spike in Net Profit of 8.37 Crores in the third quarter of the current fiscal year 2079/80 compared to only 60 lakhs made in the corresponding quarter of previous fiscal year.
As per the report for the third quarter published today, LICN has a paid-up capital of Rs 2.65 Arba with a reserve of Rs 69.09 crore.
The company has Rs 1.04 Kharba in life insurance fund and Rs 36.89 crore in the contingent fund.
The company has a net premium of Rs 12.87 Arba till Q3 of FY 2079/80 from Rs 13.62 Arba in the corresponding quarter of last fiscal year.
The company’s number of policyholders increased slightly to 16,581 from 16,331 in the corresponding quarter of the previous fiscal year.
It's EPS at Rs 4.21, which has improved greatly from only Rs. 0.45 in Q3 of FY 078/79. Meanwhile, the company’s net worth per share stands Rs 139.95.
Similarly, the company traded at a PE multiple of 317.09 times.
Major Financial Highlights:
| Particulars (In Rs '000) | Life Insurance Corporation | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 2,653,200.00 | 2,653,200.00 | 0.00% |
| Reserve and Surplus | 690,999.98 | 709,000.08 | -2.54% |
| Life Insurance Fund | 104,538,857.21 | 90,304,103.39 | 15.76% |
| Contingent Fund | 368,965.75 | 360,594.85 | 2.32% |
| Net Premium | 12,876,570.38 | 13,622,768.18 | -5.48% |
| Re-Insurance Income | 7,117.44 | 8,009.35 | -11.14% |
| Income from Investment, Loan and others | 5,765,576.29 | 4,644,042.01 | 24.15% |
| Claim Payment (Net) | 6,533,299.81 | 6,616,973.33 | -1.26% |
| Provision for Losses | 56,442.62 | 151,243.89 | -62.68% |
| Agent Commission | 1,052,625.85 | 1,294,872.68 | -18.71% |
| Net Profit | 83,709.02 | 6,001.51 | 1294.80% |
| No of Policies (Nos) | 16,581 | 16,331 | 1.53% |
| EPS (In Rs.) | 4.21 | 0.45 | 829.87% |
| Net Worth per Share (In Rs.) | 139.95 | 140.31 | -0.26% |
| PE Ratio | 317.09 | - | - |
| Qtr End Market Price | 1,333.90 | ||
