Guardian Micro Life Insurance Reports Rs 27.4 Million Net Profit in Q3

Kathmandu – Guardian Micro Life Insurance Limited has reported a net profit of Rs 27.4 million for the third quarter of the current fiscal year, marking a significant leap from just Rs 700,000 in the same period last year. The impressive growth is largely attributed to the company’s expanding business operations, as it had only recently started its services last year.

The company’s net insurance premium income rose to Rs 19.4 million, up from Rs 17.8 million recorded during the same period last year. Meanwhile, total income saw an increase from Rs 54.2 million to over Rs 255.5 million.

However, operating expenses also surged, rising from Rs 53.5 million to Rs 227.7 million during the review period. In line with the business growth, the company’s insurance fund expanded to Rs 125.9 million.

As of the end of the third quarter, Guardian Micro Life Insurance holds a paid-up capital of Rs 750 million. It has accumulated Rs 2.9 million in its disaster fund and around Rs 20 million in its reserve fund.

The company’s earnings per share (EPS) have also seen notable improvement, rising from Rs 0.18 last year to Rs 4.88 this year. Similarly, its net worth per share stands at Rs 102.93.