Sun Nepal Life Insurance Company Reports 11.06% Net Profit Surge Despite Slight Decrease in Net Premium in Q3; EPS at Rs. 20.57
Mon, May 6, 2024 11:58 AM on Latest, Financial Analysis, Company Analysis,
Sun Nepal Life Insurance Company Limited (SNLI) has reported impressive financial results for the third quarter of the fiscal year 2080/2081, marked by a surge of 11.06% in net profit. The company's net profit escalated to Rs. 49.36 crores from Rs. 44.45 crores in the corresponding quarter of the previous fiscal year.
SNLI's financial overview portrays a foundation, with a paid-up capital of Rs. 3.2 Arba and a notable share premium of Rs. 1.26 Arba. Additionally, the company maintains substantial reserves, including Rs. 1.23 Arba in retained earnings, Rs. 36.72 Crores in other equity, and Rs. 14.25 crores in catastrophe reserves.
During the period, Sun Nepak Life witnessed a decline of 0.98% in net premiums, reaching Rs. 2.49 Arba in Q3 FY 2080/81 compared to the preceding year. Demonstrating financial acumen, the company generated Rs. 65.23 Crores from income derived from investments, loans, and other financial activities.
However, the quarter also saw a noteworthy 6.82% increase in net claims, totaling Rs. 2.05 Arba.
Key financial metrics further underscore SNLI's performance, with an annualized earnings per share (EPS) of Rs. 20.57, net worth per share of Rs. 194.11, and a P/E ratio of 29.03 times.
Major Financial Highlights:
* Figures are of Immediate Previous Year Quarter Ending
| Particulars (In Rs '000) | Sun Nepal Life Insurance Company | ||
|---|---|---|---|
| Q3 2080/81 | Q3 2079/80 | Difference | |
| Share Capital | 3,200,000.00 | 2,240,000.00* | 42.86% |
| Share Premium | 1,267,680.00 | 0.00 | - |
| Catastrophe Reserves | 142,581.57 | 93,214.75* | 52.96% |
| Retained Earnings | 1,234,147.50 | 803,358.96* | 53.62% |
| Other Equity | 367,263.31 | 363,703.63* | 0.98% |
| Insurance Fund | 6,966,009.35 | 5,656,622.12* | 23.15% |
| Investment | 10,755,104.66 | 7,480,469.52* | 43.78% |
| Net Premium | 2,490,610.24 | 2,515,326.42 | -0.98% |
| Income from Investment, Loan and others | 652,352.63 | 406,239.38 | 60.58% |
| Claim Payment (Net) | 2,050,915.87 | 1,920,051.93 | 6.82% |
| Commission Expenses | 229,723.38 | 251,813.36 | -8.77% |
| Net Profit | 493,668.21 | 444,518.66 | 11.06% |
| No of Policies | 862,802.00 | 941,014.00 | -8.31% |
| EPS (In Rs.) | 20.57 | 26.46 | -22.26% |
| Net Worth per Share (In Rs.) | 194.11 | 156.26 | 24.22% |
| PE Ratio | 29.03 | ||
| Solvency Ratio | 1.44 | - | - |
