Fri, May 11, 2018 7:16 AM
National Life Insurance Company ( NLICL) has stated rise in net profit by a decent margin of 27.10%in the third quarter of the FY 2074/75.
As per the unaudited report of the third quarter, the insurance company reported net profit of Rs 22.20 crore in the Q3 of the fiscal year 2074/75, up from Rs 17.47 crore of the corresponding fiscal year.
The company’s earnings from premium have rose to Rs 3.94 arba from the corresponding year’s Rs 3.03 arba. The company’s life insurance fund stands at Rs 20.39 arba which was Rs 16.17 arba in the corresponding quarter of the last fiscal year.
The paid up capital of the insurance company is Rs 1.65 arba with Rs 43.81 crore in the reserve. Currently, National Life Insurance is seeking approval from Securities Board of Nepal (SEBON) for the issuance of 10:6 (60%) right shares. After the issuance of 60% right share, its paid up capital will reach Rs 2.64 arba and met the capital requirement of Rs 2 arba as per Insurance Board.
The life insurance company is yet to convene its Annual General Meeting (AGM) for the fiscal year 2073/74.
The earning per share of the life insurance company stands at Rs 17.96 and net worth stands at Rs 126.44.