Nepal Life & Surya Life Insurance earns Rs.1.64 crore & 77.01 lakhs respectively in Q1

Nepal Life Insurance Company Limited (NLIC) has posted 64% decline in profit for the first quarter of the fiscal year 2072/73. As per the unaudited report for the first quarter published today, the insurance company reported a net profit of Rs.1.64 crore in the Q1 of current fiscal year, down from Rs.4.57 crore in the corresponding period last year. The company’s earnings from premiums rose to Rs.1.99 arba from Rs.1.63 arba. NLIC has a paid up capital of Rs.1.73 arba. The reserve fund of the company has decreased to Rs.7.37 crore in Q1 from Rs.64.43 crore in the same quarter previous fiscal year. The company’s insurance fund has risen to Rs.25.53 arba from Rs.18.70 arba. The company’s number of policy holders has risen to 9.85 lakhs this quarter compared to 8.19 lakh reported in the same period last year. Nepal Life’s annualized EPS stands at Rs.15.2, net worth per share is at Rs.104.25 and P/E ratio at 861.54 times. Likewise, Surya Life Insurance Company Limited (SLICL) has reported 73% decrease in profit for the first quarter of the fiscal year 2072/73. In the unaudited financial report for the first quarter, the insurance company reported a net profit of Rs.77.01 lakh, down from Rs.2.86 crore in the corresponding period last year. The company’s earnings from premiums grew to Rs.14.64 crore from Rs.10.17 crore. The company has a paid up capital of Rs.50 crore. The reserve fund of the company has slightly drop to Rs.1.46 crore in Q1 from Rs.1.47 crore in the previous fiscal year. Meanwhile, its insurance fund has risen to Rs.1.14 arba from Rs.74.11 crore. Surya Life Insurance’s number of policy holders has increased to 2 lakhs this quarter from 97,527 reported in the same period of last year. Its annualized EPS stands at Rs.6.16, net worth per share is at Rs.131.72 and P/E ratio at 109.40 times.