Lumbini General Insurance’s net profit peak by 116.67 %

ShareSansar, May 8:

Lumbini General Insurance Company Limited posted 116.67 percent increase in net profit this third quarter of the current fiscal year 2070/71.

Publishing the unaudited financial report for the third quarter today, the insurance company has stated that its net profit has increased to Rs 3.25 crore up from Rs 1.50 crore in the corresponding quarter of the last fiscal year 2069/70.

The dramatic increase in net profit was mainly fueled by the surge in the operational profit from Rs 1.92 crore to Rs 4.31 crore in this quarter.

Likewise, there is increase in the insurance fund from Rs 5.30 crore to Rs 8.07 crore and the reserve and surplus also increased to Rs 3.80 crore from Rs 1.09 crore as compared to corresponding quarter of the last fiscal year 2069/70.

The company’s EPS is Rs 13; net worth per share is Rs. 147.54 and the P/E ratio 26.54.