Guardian Micro Life Insurance Sees 33.66% Surge in First-Quarter Profit

Kathmandu – Guardian Micro Life Insurance Limited has published its first-quarter financial results for the current fiscal year, reporting a notable rise in profitability. According to the statement, the company’s net profit has increased by 33.66 percent compared to the same period last fiscal year.

By the end of Ashoj of the current fiscal year, the company earned a net profit of Rs 7.084 million, up from Rs 5.3 million recorded in the corresponding period of the previous year. The company’s business volume has also strengthened significantly, supported by a sharp rise in insurance premium income.

During the review period, Guardian Micro Life’s net insurance premium income grew by 119.45 percent, rising from Rs 51.382 million to Rs 112.276 million. Total income also expanded from Rs 64.19 million to Rs 163.90 million, while total expenses increased from Rs 58.889 million to Rs 153.36 million, in line with business expansion.

The company’s agent commission payments also increased. Guardian Micro Life had paid Rs 5.591 million in commissions during the first quarter of the previous fiscal year, which rose by 66.66 percent to Rs 9.318 million in the first quarter of the current year.

Despite profit growth, the company’s earnings per share slipped slightly from Rs 4.04 to Rs 3.78, a drop of Rs 0.26. The company’s net worth per share stands at Rs 103.41.

Guardian Micro Life has a paid-up capital of Rs 750 million, with a disaster fund of Rs 3.293 million and a reserve fund of Rs 2.219 million. The company’s life insurance fund recorded a remarkable increase of 559.22 percent, rising from Rs 52.56 million in the first quarter of the previous fiscal year to Rs 346.458 million in the same period this fiscal year.