SLICL profit peaks by 209% while GLICL and LICN’s profits drop

ShareSansar, May 15:

Surya Life insurance Company Limited posted amazing growth of 209 percent. On the other hand Guras Life insurance Company Limited showed 18.37 percent decrease in its net profit likewise, Life Insurance Corporation Nepal also stated 14.67 percent decrease for this third quarter of the current fiscal year 2070/71.

Publishing the unaudited financial report for the third quarter today, Surya Life insurance company has stated that its net profit has increased to Rs 2.31 crore up from Rs 74.92 lakh. Whereas Guras Life insurance company stated a slight decrease in net profit to Rs 1.6 crore from 1.96 crore similarly, LIC Nepal also stated decline in the net profit to Rs 19.72 crore from Rs 23.11 crore compared to the corresponding quarter of the last fiscal year 2069/70.

The net profit of SLICL was mainly fueled by the rise in the income of the company from Rs 5.31 crore to Rs 20.91 crore as compared to the corresponding quarter. While, the decrease in the GLICL’s operation profit from 8.69 lakh to 1.69 lakh has triggered the decline in the net profit. Even though LIC’s income rose to Rs 3.59 arba from Rs 2.86 arba the rise in the expenses of the company has affected the net profit for the third quarter.

There is increase in the life insurance fund for SLICL from Rs 45.95 crore to Rs 55.47 crore and the reserve and surplus also increased to Rs 10.05 crore from Rs 5.3 crore. GLICL also raised their insurance fund to Rs 90.36 crore from Rs 53.91 crore along with that, the reserves and surplus have also increased to 12.09 crore from Rs 9.49 crore. Similarly, LIC’s insurance fund increased to Rs 14.42 arba from 11.05 arba and the reserves reached Rs 20.14 crore from 2.62 crore as compared to corresponding quarter of the last fiscal year 2069/70.

SLICL’s EPS (Annually) stands at Rs 5; net worth per share is Rs. 120.11 and the P/E ratio 108 times. Likewise, GLICL’s EPS (Annually) is Rs 4.29; net worth per share is Rs 124.19 and the P/E ratio 110.02 times along with that LIC’s EPS is Rs 3, net worth per share is Rs 130.62 and the P/E ratio is 993.33 times.