Massive profit growth of National & Surya Life Insurance by 42.41% & 60.43% respectively in Q1

National Life Insurance Company Limited (NLICL) has posted outstanding 42.41% rise in net profit for the first quarter of the current fiscal year 2073/74. As per the unaudited report for the first quarter published today, the insurance company reported a net profit of Rs.5.05 crore in the Q1 of current fiscal year, up from Rs.3.55 crore in the corresponding period last year. The company’s earnings from premium rose to Rs. 1.02 arba in Q1 from Rs 75.22 crore in the corresponding quarter. NLICL has a paid up capital of Rs.1.01 arba. The reserve fund of the company has increased to Rs 58.06 crore in Q1 from Rs. 33.76 crore in the same quarter previous fiscal year. Likewise, the company’s insurance fund has risen to Rs.15.24 arba from Rs.12.56 arba. The company’s number of policy holders has increased to 3.42 lakh this quarter compared to 3.23 lakh reported in the same period last year. National Life’s annualized Earning per Share (EPS) stands at Rs 19.84, net worth per share is at Rs.164.44 and P/E ratio at 171.23 times. Surya Life Insurance Company limited (SLICL) has reported massive 60.43% rise in profit for the first quarter of the fiscal year 2073/74. In the unaudited financial report for the first quarter, the insurance company reported a net profit of Rs.1.23 crore, up from Rs.77.01 lakh in the corresponding period last year. The company’s earnings from premiums grew to Rs 21.66 crore from Rs.14.64 crore. The company has a paid up capital of Rs 50 crore. The reserve fund of the company has increased to Rs. 20.27 crore in Q1 from Rs 14.69 crore in the previous fiscal year. Similarly, its insurance fund has risen to Rs 1.85 arba from Rs.1.14 arba.. Surya Life Insurance’s number of policy holders has increased to 2.92 lakhs this quarter from 2.005 lakh reported in the same period of last year. Its annualized EPS stands at Rs.9.88, net worth per share is at Rs 144.16 and P/E ratio at 91.05 times.