Life Insurance Corporation records Rs 57.80 arba life insurance fund; 51.55% fall in net profit in Q1 for 2076/77

Mon, Nov 18, 2019 3:02 PM on Financial Analysis, Latest, Stock Market,

Life Insurance Corporation (Nepal) Limited (LICN)’s net profit decreased by 51.55% in the first quarter of the current fiscal year 2076/77.

The company earnings have fell from Rs 4.88 crores in the Q1 of the FY 2075/76 to Rs 2.36 crore in Q1 of FY 2076/77. The net profit figure is without the profit generated from the actuarial valuation of assets and liabilities.

As per the unaudited report for the first quarter published today, LICN has a paid-up capital of Rs 2.01 arba with a reserve of Rs 42.22 crore.

The company has a massive Rs 57.80 arba in life insurance fund and Rs 23.62 crore in the contingent fund.

The net earnings from premium rose to Rs 4.17 arba till Q1 of FY 2076/77 from Rs 2.89 arba in the corresponding quarter of last fiscal year. The company has earned Rs 1.08 arba from investment, loans and others headings.

The company’s number of policyholders increased slightly from 7.24 lakh in the corresponding quarter to 7.49 lakh in Q1 of the current fiscal year.

It's annualized EPS and net worth per share stands at Rs 4.69 and at Rs 132.75. The P/E ratio of the company is at 838.67 times.

First Quarter Report