Life Insurance Corporation shows staggering rise of 100% in profit; EPS stands at Rs 9.97

Life Insurance Corporation Nepal Limited (LICN) third quarterly published report has shown an tremendous rise in the net profit by 100.10%. The net profit for the current quarter has been reported as Rs 9.98 crore which was Rs 4.98 crore in the corresponding quarter of the previous fiscal year.

The insurance company has earned Rs 6.95 arba as earnings from premium in the third quarter, which has increased from Rs 5.78 arba of the corresponding quarter. It earned Rs 1.29 crore as reinsurance commission in the third quarter. Its life insurance fund stands huge at Rs 40.58 arba.

The paid up capital of the company Is Rs 1.33 arba with Rs 36.12 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%).

The annualized EPS of LICN stands at Rs 9.97 and Net worth per share at Rs 134.58.