Life Insurance Corporation Net Profit Decreases in Q4; Life Insurance fund stands at Rs 93.63 Arba
Mon, Aug 15, 2022 4:45 PM on Latest, Financial Analysis, Stock Market,
Life Insurance Corporation (Nepal) Limited (LICN)’s reported a net loss of 8.7 Crores in the fourth quarter of the current fiscal year 2078/79. The company has earned Rs 19.09 crore till the end of fourth quarter of last fiscal year.
As per the unaudited report for the fourth quarter published today, LICN has a paid-up capital of Rs 2.65 arba with a reserve of Rs 61.5 crore.
The company has Rs 93.63 arba in life insurance fund and Rs 36.05 crore in the contingent fund.
The net earnings from premium rises by 6.40% to Rs 18.13 arba till Q4 of FY 2078/79 from Rs 17.04 arba in the corresponding quarter of last fiscal year. The company has earned Rs 6.61 arba from investment, loans and others headings.
The company’s number of policyholders decreased from 7.41 lakh in the corresponding quarter to 7.09 lakh in Q4 of the current fiscal year.
It's EPS and net worth per share stands at Rs -3.30 and Rs 136.79.
Major Financial Highlights
| Particulars (In Rs '000") | LICN | ||
|---|---|---|---|
| Q4 2078/79 | Q4 2077/78 | Difference | |
| Paid Up Capital | 2,653,200.00 | 2,211,000 | 20.00% |
| Reserve and Surplus | 615,518.64 | 648,703 | -5.12% |
| Life Insurance Fund | 93,630,653.45 | 81,069,953 | 15.49% |
| Contingent Fund | 360,594.85 | 267,313.37 | 34.90% |
| Net Premium | 18,139,865.51 | 17,049,017 | 6.40% |
| Re-Insurance Commission Income | 10,189.61 | 14,066 | -27.56% |
| Income from Investment, Loan and others | 6,611,440.21 | 6,209,424 | 6.47% |
| Claim Payment (Net) | 9,063,602.36 | 7,356,914 | 23.20% |
| Agent Commission | 1,692,662.03 | 1,685,746 | 0.41% |
| Provision Written Back | 14,819.12 | 56,442 | -73.74% |
| Transferred to Life Insurance Fund | 13,355,638.01 | 13,580,412 | -1.66% |
| Net Profit | (87,479.92) | 190,991 | -145.80% |
| No of Policies | 709,780.00 | 741,239 | -4.24% |
| EPS (In Rs.) | -3.30 | 8.64 | -138.17% |
| Net Worth per Share (In Rs.) | 136.79 | ||
| Qtr End PE Ratio | -429.16 | - | |
| Qtr End Market Price | 1,415.00 | - |
