Nepal Life Q4 earning plunges by 54.41% to Rs 24.04 crore; Surya Life Ins. profit doubles by 130.21% to Rs 2.83 crore

Nepal Life Insurance Company Limited (NLIC) has reports net profit decline by 54.41% for the fourth quarter of the last fiscal year 2072/73. As per the unaudited report for the fourth quarter , the insurance company reported a net profit of Rs.24.04 crore in Q4 of last fiscal year, down from Rs.52.75 crore in the corresponding period last year. The company’s earnings from premiums rose to Rs.10.13 arba in Q4 from Rs 7.97 arba in the corresponding quarter. NLIC has a paid up capital of Rs. 2.16 arba. The reserve fund of the company has decreased to Rs.27.36 crore in Q4 from Rs.49.07 crore in the same quarter previous fiscal year. Meanwhile, the company’s insurance fund has risen to Rs. 32.13 arba from Rs. 23.29 arba. The company’s number of policy holders rose to 12.43 lakhs this quarter compared to 10.20 lakh reported in the same period last year. Nepal Life’s annualized earning per share (EPS) stands at Rs 11.09, net worth per share is at Rs.119.3 and P/E ratio at 361.10 times. Likewise, Surya Life Insurance Company Limited (SLICL) has reported massive rise of 130.31% profit for the fourth quarter of the fiscal year 2072/73. In the unaudited financial report for the fourth quarter, the insurance company reported a net profit of Rs. 2.83 crore, up from Rs. 1.23 crore in the corresponding period last year. The company’s earnings from premiums grew to Rs 1 arba from Rs.62.30 crore. The company has a paid up capital of Rs. 50 crore. The reserve fund of the company has risen to Rs.15.99 crore in Q4 from Rs 13.50 crore in the previous fiscal year. Likewise, its insurance fund has risen to Rs. 1.73 arba from Rs 1.06 arba.. Surya Life Insurance’s number of policy holders has increased 2.86 lakhs this quarter from 1.74 lakh reported in the same period of last year. Its annualized EPS stands at Rs. 5.68, net worth per share is at Rs 134.65 P/E ratio at 150.78 times.