Life Insurance Corporation Nepal shows astounding rise in the net profit; Net profit surges by 600%

Life Insurance Corporation Nepal Limited (LICN) second quarterly published report has shown an tremendous rise in the net profit by 600%. The net profit for the current quarter has been reported as Rs 6.76 crore which was Rs 96.59 lakh in the corresponding quarter of the previous fiscal year. The insurance company has earned Rs 4.48 arba as earnings from premium in the second quarter, which has increased from Rs 3.57 arba of the corresponding quarter. Its insurance fund stands huge at Rs 38.22 arba. The paid up capital of the company Is Rs 1.33 arba with Rs 33.22 crore in the reserve. To meet the capital requirement of Rs 2 arba as directed by the Insurance Board of Nepal, it should hike its capital by Rs 67 crore (around 50%). Q2 Report