Reliable Nepal Life Reported 21.65 % Increment in Net Profit To Stand at Rs. 27.4 Crores in Q4; Company In IPO Pipeline
Fri, Jul 29, 2022 11:10 AM on Latest, Financial Analysis, Stock Market,
Reliable Nepal Life Insurance Limited has published its fourth-quarter report of the fiscal year 2078/2079 with an increase in Net Profit by a 21.65% compared to the corresponding quarter of the previous year. The company’s net profit increased to Rs. 27.4 crores in this quarter from Rs. 22.5 crores in the corresponding quarter of the previous FY.
As per the unaudited report for the fourth quarter published today, Reliable Nepal Life has a paid-up capital of Rs. 1.40 Arba with a reserve of Rs.1.09 Arba.
The company has Rs. 4.60 Arba in life insurance fund and Rs. 10.7 crores in the contingent fund.
The Net Premium rose by 27.42% to Rs. 3.77 Arba in FY 2078/2079 from Rs. 2.95 Arba in the corresponding quarter of the previous year. The company has earned Rs. 48.3 crores from income from investment, loans, and other headings.
The company’s Net claim increased by 5.57% to Rs. 71.7 crores till this quarter. The company’s number of policies stood at 5,075,648 till Q4 of 2078/2079.
Its earnings per share (EPS) stood at Rs. 19.63 whereas Net worth per share stood at Rs. 185.59
NOTE: The company is in IPO pipeline to issue IPO at a premium of Rs. 112.
Major financial highlights
| Particulars (In Rs '000") | Reliable Nepal Life Insurance | ||
|---|---|---|---|
| Q4 78/79 | Q4 77/78 | Difference | |
| Paid Up Capital | 1,400,000 | 1,400,000 | 0.00% |
| Reserve and Surplus | 1,090,921 | 843,541 | 29.33% |
| Life Insurance Fund | 4,604,976 | 2,585,154 | 78.13% |
| Contingent Fund | 107,349.00 | 79,863.00 | 34.42% |
| Gross Premium | 3,974,456.09 | 3,014,797.79 | 31.83% |
| Net Premium | 3,770,195 | 2,958,962 | 27.42% |
| Re-Insurance Commission Income | 0 | 0 | |
| Income from Investment, Loan and others | 483,763 | 369,181 | 31.04% |
| Claim Payment (Net) | 717,719 | 679,820 | 5.57% |
| Agent Commission | 576,961 | 427,652 | 34.91% |
| Transferred to Life Insurance Fund | 2,019,822 | 1,414,793 | 42.76% |
| Net Profit | 274,866 | 225,942 | 21.65% |
| No of Policies | 5,075,648 | 3,609,678 | 40.61% |
| EPS (In Rs.) | 19.63 | 16.14 | 21.62% |
| Net Worth per Share (In Rs.) | 185.59 | 165.96 | 11.83% |
| Total Asset Value Per Share (In Rs.) | 613.12 | 518.42 | 18.27% |
