Prabhu Mahalaxmi Life Insurance Reports Rs 270.7 Million Net Profit in Current Fiscal Year

Kathmandu – Prabhu Mahalaxmi Life Insurance has reported a net profit of Rs 270.7 million by the end of Chaitra in the current fiscal year, reflecting a modest year-on-year growth of 0.67 percent compared to Rs 268.9 million recorded in the same period last year.

The company witnessed significant growth in its life insurance fund, which surged by 43.61 percent from Rs 8.91 billion last year to Rs 12.80 billion this year.

Net insurance net premium income rose from Rs 2.96 billion to approximately Rs 3.5 billion, contributing to a 16.80 percent increase in total income, which reached Rs 4.55 billion. In contrast, total expenses also climbed by 17.72 percent, amounting to Rs 4.26 billion compared to Rs 3.62 billion in the previous fiscal year.

The company maintains a strong financial base with a paid-up capital of Rs 4.72 billion, including a disaster fund of around Rs 104.7 million and a reserve fund of approximately Rs 794.5 million. Additionally, the share premium stands at Rs 193 million.

Despite the overall growth, the company’s earnings per share (EPS) declined from Rs 8.35 last year to Rs 7.64 in the current fiscal year. However, the net worth per share remains strong at Rs 121.89.