IME Life Earns 14.12% Profit Gain in Second Quarter

Kathmandu – IME Life Insurance Company Limited has published its second-quarter financial statements for the current fiscal year, reporting a 14.12% increase in net profit compared to the same period last fiscal year.

The company’s net profit rose from Rs 234.7 million in the previous fiscal year to Rs 267.8 million in the current fiscal year. This growth is attributed to an increase in total income and net insurance premium income during the period.

The total income of the company grew from Rs 2.65 billion last fiscal year to Rs 3.14 billion in the current fiscal year. Similarly, net insurance premium income rose from Rs 1.99 billion to Rs 2.33 billion, contributing significantly to the improved profitability.

By the end of the second quarter, the company’s life insurance fund had expanded to Rs 10.87 billion, while its paid-up capital stood at Rs 5 billion. IME Life Insurance also reported retained earnings of Rs 138.2 million, a disaster fund of Rs 217.5 million, and a share premium of Rs 523.8 million.

Despite the profit growth, the company’s earnings per share (EPS) declined from Rs 11.74 to Rs 10.71 during the period, while its net worth per share was reported at Rs 152.23.