National Life Insurance Posts Rs 412.8 Million in Net Profit, Total Income Reaches 28.64 Billion

Kathmandu – National Life Insurance Company Limited has reported a net profit of Rs 412.8 million in the fourth quarter of the last fiscal year, marking a significant decline of 56.22 percent compared to Rs 942.8 million earned in the same period of the previous fiscal year

Despite the contraction in profit, the company’s business showed positive growth in several key areas. Net insurance premium income rose by 7.03 percent, reaching Rs 21.47 billion compared to Rs 20.6 billion in the previous fiscal year. The life insurance fund also grew from Rs 79.1 billion to Rs 89.91 billion, an increase of 13.80 percent.  National Life Insurance increased total payments to policyholders by 32.94 percent, from Rs 8.32 billion to Rs 11.7 billion.

The company’s total income reached Rs 28.64 billion, 5.96 percent higher than the Rs 27.10 billion recorded the previous year. Total expenses also rose by 9.10 percent to Rs 27.42 billion, up from Rs 25.14 billion. The company’s increased commission payouts by 29.40 percent to Rs 21.8 million from Rs 16.8 million.

Earnings per share (EPS) dropped from Rs 18.81 to Rs 7.92, while net worth per share remained steady at Rs 129.72. Paid-up capital rose 9.2 percent from Rs 5.01 billion to Rs 5.47 billion. The company currently holds Rs 667.2 million in its disaster fund, Rs 278.4 million in share premium, and Rs 510 million in retained earnings.