Sun Nepal Life Insurance (SNLI) Q2 Report Discloses 7.22% Net Profit Decrease; EPS Stands at Rs. 20.53
Sun, Feb 4, 2024 8:46 AM on Financial Analysis, Company Analysis, Latest,
In the second quarter of the fiscal year 2080/2081, Sun Nepal Life Insurance Company Limited (SNLI) reported a 7.22% decrease in net profit, declining from Rs. 35.39 crores to Rs. 32.84 crores compared to the corresponding quarter of the previous year.
The financial overview of SNLI stands with a paid-up capital of Rs. 3.2 Arba and a share premium of Rs. 1.26 Arba. Additionally, the company boasts Rs. 1.07 Arba in retained earnings, Rs. 31.90 crores in other equity, and Rs. 12.35 crores in catastrophe reserves. Notably, the company holds substantial investments totaling Rs. 10.71 Arba.
Despite a marginal 0.13% decrease in net premium, totaling Rs. 1.58 Arba in the second quarter of FY 2080/81, compared to the preceding year, the company exhibited resilience by generating Rs. 43.54 crores from income derived from investments, loans, and other financial activities—a notable spike of 72.41%.
However, the financial report highlights a concerning 19.09% increase in net claims, reaching Rs. 1.29 Arba in the same quarter of the fiscal year 2080/2081.
Key financial indicators underscore SNLI's performance, featuring an annualized earnings per share (EPS) of Rs. 20.53 and a net worth per share of Rs. 187.04. The company's stock is traded at a P/E multiple of 28.09 times.
Major Highlights:
* Figure is of Immediate Fiscal Year Ending
| Particulars (In Rs '000) | Sun Nepal Life Insurance Company Limited | ||
|---|---|---|---|
| Q2 2080/81 | Q2 2079/80 | Difference | |
| Paid Up Capital | 3,200,000.00 | 2,240,000.00* | 42.86% |
| Share Premium | 1,267,680.00 | 0.00 | - |
| Catastrophe Reserves | 123,521.48 | 90,680.96* | 36.22% |
| Retained Earnings | 1,075,010.71 | 791,573.52* | 35.81% |
| Other Equity | 319,051.13 | 312,371.24* | 2.14% |
| Investments | 10,178,110.25 | 7,480,469.52* | 36.06% |
| Net Premium | 1,586,419.83 | 1,588,476.15 | -0.13% |
| Income from Investment, Loan, and others | 435,408.80 | 252,538.51 | 72.41% |
| Claim Payment (Net) | 1,296,551.20 | 1,088,699.77 | 19.09% |
| Commission Expenses | 149,009.69 | 165,198.41 | -9.80% |
| Employees Benefit Expenses | 151,530.42 | 143,814.25 | 5.37% |
| Other Operating Expenses | 92,613.55 | 55,645.84 | 66.43% |
| Net Profit | 328,405.14 | 353,975.49 | -7.22% |
| Total Inforce Policy Count | 893,930.00 | 872,666.00 | 2.44% |
| EPS (In Rs.) | 20.53 | 31.60 | -35.06% |
| Net Worth per Share (In Rs.) | 187.04 | 153.33 | 21.98% |
| PE Ratio | 28.09 | - | - |
