NICL Records Steady Rise in Net Profits Owing to Increased Net Premium Accumulation in Q4
Tue, Aug 15, 2023 8:45 AM on Financial Analysis, Latest,
Nepal Insurance Company Limited (NICL) has published its fourth-quarter report for the recently concluded financial year 2079-80 with a steady increase of almost 10 percent in its Net profit. As of FY 2079-80, the company has made Rs.40 crores as opposed to earning only Rs. 36.40 crores until the corresponding quarter of the previous FY 2078-79.
With an increase in the Net profit of the company, the Earnings per Share (EPS) of the company has improved marginally to stand at Rs. 26.76, alongside a Net worth per Share of Rs. 196.70, as of FY 2079-80’s end.
The Net premium accumulated by the life insurance company totals Rs. 79.81 crores as it has after improving considerably by 19.32 percent until the last quarter of the recently wrapped up financial year 2079-80.
The number of policies sold by the company has increased by 5.81 percent, totaling 1.84 lakhs until Q4 of FY 2079-80.
NICL maintains Rs. 1.49 Arba in paid-up capital and has Rs. 49.27 crores in the form of Reserve and Surplus as of FY 2079-80’s end.
Major Financial Highlights:
| Particulars (In Rs '000) | Nepal Insurance Company Limited | ||
|---|---|---|---|
| Q4 2079/80 | Q4 2078/79 | Difference | |
| Paid Up Capital | 1,494,765.00 | 1,378,996.00 | 8.40% |
| Reserve and Surplus | 492,755.00 | 401,916.00 | 22.60% |
| Insurance Fund | 952,697.00 | 753,247.00 | 26.48% |
| Contingent Fund | - | - | - |
| Net Premium | 798,168.00 | 668,934.00 | 19.32% |
| Re-insurance Income | 225,307.00 | 260,085.00 | -13.37% |
| Claim Payment (Net) | 290,076.00 | 281,530.00 | 3.04% |
| Agent Commission | 19,705.00 | 21,319.00 | -7.57% |
| Net Profit | 400,057.00 | 364,066.00 | 9.89% |
| No of Policies (No.s) | 184,207 | 174,085 | 5.81% |
| Earnings per Ratio (EPS) ratio (In Rs.) | 26.76 | 26.40 | 1.38% |
| Net Worth per Share (In Rs.) | 196.70 | - | - |
| PE Ratio (times) | 30.64 | - | - |
| Qtr End Market Price (In Rs.) | 820.00 | - | - |
