IME Life Insurance Posts Rs 158.3 Million Net Profit in First Quarter

Kathmandu – IME Life Insurance Company Limited has posted a net profit of Rs 158.3 million in the first three months of the current fiscal year, according to the financial statement released by the company. This marks a 9.17 percent increase compared to the Rs 145 million profit recorded during the same period last year.

The company’s net insurance premium income rose sharply by 31.96 percent, reaching Rs 1.53 billion, up from Rs 1.16 billion in the corresponding period of the previous fiscal year. Likewise, IME Life’s total income grew by 25.33 percent to Rs 1.98 billion, while total expenses also rose by 26.96 percent to Rs 1.82 billion during the same period.

The company’s life insurance fund expanded by 40.82 percent, increasing from Rs 10.83 billion to Rs 14.18 billion in the first quarter of the current fiscal year, reflecting the company’s steady growth and expanding policyholder base.

IME Life also reported an increase in commissions, which reached Rs 13.14 billion, compared to Rs 10.83 billion in the corresponding quarter last year. The company’s earnings per share (EPS) rose from Rs 11.60 to Rs 12.67, while its net worth per share stood at Rs 137.41.

With a paid-up capital of Rs 5 billion, IME Life Insurance holds Rs 278.6 million in its disaster fund and Rs 862.6 million in its reserve fund.