Suryajyoti Life Insurance Reports Rs 128 Million Net Profit in First Quarter

Kathmandu – Suryajyoti Life Insurance Company Limited has reported a net profit of Rs 128 million in the first quarter of the current fiscal year, according to its recently published financial statement. This marks an 11 percent increase compared to the same period last year, when the company earned a profit of Rs 115.3 million.

The company’s net insurance premium income rose significantly by 18.74 percent, reaching Rs 2.91 billion 95 million in the first quarter, up from Rs 2.45 billion during the corresponding period of the previous fiscal year. Likewise, Suryajyoti’s life insurance fund expanded by 21.60 percent, increasing from Rs 36.48 billion to Rs 43.83 billion 46 million during the review period.

In the same timeframe, the company’s total income increased from Rs 3.52 billion to Rs 3.95 billion, while total expenses also rose from Rs 3.36 billion to Rs 3.76 billion.

Suryajyoti Life’s earnings per share (EPS) improved from Rs 9.20 to Rs 9.78, and its net worth per share stood at Rs 134.42 by the end of the quarter. The company currently has a paid-up capital of Rs 5.19 billion, with Rs 425.7 million set aside in its disaster fund and Rs 1.41 billion in the reserve fund.