Prabhu Mahalaxmi Life Insurance Records 3.49% Growth in Net Profit for Q2

Kathmandu – Prabhu Mahalaxmi Life Insurance Limited has unveiled its financial results for the second quarter of the current fiscal year, reporting a 3.49% growth in net profit compared to the same period last year.

The company posted a net profit of NPR 182.5 million this year, up from NPR 176.4 million in the corresponding period of the previous fiscal year. The increase in profit is driven by a rise in the company’s total income and net insurance premium income.

Prabhu Mahalaxmi’s total income has grown from NPR 2.6 billion last fiscal year to NPR 2.97 billion this year. Similarly, net insurance premium income rose from NPR 1.99 billion to NPR 2.26 billion over the same period, reinforcing the company’s financial strength.

The company’s life insurance fund witnessed significant growth, increasing from NPR 8.18 billion as of end of the Poush month last fiscal year to NPR 11.89 billion in the same period this year.

With a paid-up capital of NPR 4.75 billion, the company also holds a share premium of NPR 19.3 million, retained earnings of NPR 689.8 million, and a disaster fund of NPR 99.7 million. The company’s earnings per share (EPS) stands at NPR 7.73, while its net worth per share is NPR 119.64.