Crest Micro Life Insurance Reports Impressive Surge in Net Profit in Q3

Kathmandu – Crest Micro Life Insurance Limited has reported a significant financial upswing in its third quarter results for the current fiscal year, recording a net profit of Rs. 10.5 million by the end of Chaitra. This marks a staggering 638.64 percent increase compared to the same period last year.

The company has also seen a remarkable growth in its life insurance fund, which has soared by 520 percent up from Rs. 9.2 million to Rs. 50.7 million. The net earned premium rose sharply by 346.42 percent, reaching Rs. 194.1 million, compared to Rs. 43.4 million in the previous fiscal year.

Meanwhile, total income jumped by 198.72 percent to approximately Rs. 23.5 crore, up from Rs. 78.6 million last year. However, this growth in income was accompanied by a 190.59 percent rise in total expenses, which surged to Rs. 224.2 million from Rs. 77.1 million.

The company maintains a share capital of Rs. 750 million, with Rs. 2.04 million allocated in its disaster fund and Rs. 12.2 million in the reserve fund. Earnings per share (EPS) have increased to Rs. 1.87 from last year’s Rs. 0.36, and the company’s net worth per share stands at Rs. 102.88.