NLG Insurance Reports Decline in Profit but Growth in Income and Insurance Fund

Kathmandu – NLG Insurance Company Limited has made public the second quarter financial statements of the current fiscal year. According to the financial statements, the company has earned a net profit of Rs 74.5 million till the second quarter of the current fiscal year.

The company’s net profit this year has decreased by 14.90 percent compared to the second quarter of last year. Last year, the company had earned a profit of Rs 87.5 million.

Along with the decrease in profit, the company’s earnings per share have also decreased. The company’s earnings per share were Rs 12 in the last fiscal year, but have decreased to Rs 9.68 in the current fiscal year.

Despite the decrease in net profit, the company’s income and net insurance premium income have increased. The company’s income was Rs 553 million in the last fiscal year, but has increased to over Rs 670.7 million in the current fiscal year. Similarly, the company’s net insurance premium income increased to Rs 443.5 million in the current fiscal year from Rs 313 million in the last fiscal year.

The company’s current paid-up capital is Rs 1.53 billion. The company has Rs 1.35 billion in special reserves, Rs 80 million in retained earnings, and Rs 82 million in the disaster fund.
The company’s non-life insurance fund, which was Rs 2.85 billion in the last fiscal year, has increased to Rs 3.81 billion in the current fiscal year. The company’s net worth per share is Rs 204.83.