Nepal Micro Insurance Reports Rs 1.6 Million Profit, Premium Income Surges

Kathmandu — Nepal Micro Insurance Company Limited has reported a net profit of Rs 1.657 million for the last fiscal year, marking a 43.91 percent drop from the Rs 2.954 million recorded in the previous fiscal year.

Despite the profit decline, the company’s net insurance premium income rose sharply to Rs 76 million from Rs 18.5 million a year earlier. Total income increased to Rs 145.5 million from Rs 71.6 million, while total expenses almost doubled, reaching Rs 141.8 million compared to Rs 67.4 million in the previous year.

The company’s insurance fund grew significantly, from Rs 58.6 million to Rs 171.9 million. Earnings per share (EPS) fell by Rs 0.34 to Rs 0.22, while net worth per share stood at Rs 99.86.

Nepal Micro Insurance’s paid-up capital increased from Rs 525 million to Rs 750 million. As of the end of the fiscal year, it reported a balance of Rs 4.3 million in its special reserve, Rs 5.7 million in its reserve fund, and Rs 431,000 in its catastrophe fund.