Himalayan Life Insurance Reports 8.73% Growth in Net Profit

Kathmandu – Himalayan Life Insurance Limited has published its financial statements for the second quarter of the current fiscal year, revealing an 8.73% growth in net profit compared to the same period last year. The company’s net profit rose from Rs 346 million in the previous fiscal year to Rs 376.2 million this year, driven by increased income.

According to the financial report, the company’s total income increased from Rs 10.97 billion in the previous fiscal year to Rs 12.21 billion in the current fiscal year. Similarly, net insurance premium income climbed from Rs 7.89 billion to Rs 8.06 billion during the same period.

The company’s life insurance fund also showed significant growth, increasing from Rs 58.29 billion in the second quarter of the previous fiscal year to over Rs 70.4 billion this fiscal year.

Himalayan Life Insurance’s paid-up capital stands at Rs 8.2 billion. As of the second quarter, the company has accumulated Rs 2.13 billion in retained earnings and Rs 460 million in its disaster fund.

The company also reported an improvement in earnings per share (EPS), which increased from Rs 8.63 in the second quarter of the last fiscal year to Rs 9.38 this year. Additionally, the company’s net worth per share now stands at Rs 130.21.