Prabhu Mahalaxmi Life Publishes Q1 Results, Net Premium Income Up 18%
Kathmandu — Prabhu Mahalaxmi Life Insurance has released its financial statements for the first quarter of the current fiscal year, reporting notable growth in net premium income despite a decline in total premium earnings and profitability.
The insurer posted Rs 1.38 billion in net premium income, marking an 18 percent increase from Rs 1.17 billion recorded in the same period last fiscal year. However, the company’s total premium income decreased to Rs 1.44 billion, down from Rs 1.20 billion, reflecting a 19 percent decline compared to the previous year.
Prabhu Mahalaxmi Life reported a profit of Rs 63.7 million for the quarter, representing a significant drop from Rs 126.2 million earned during the same period last year — a decrease of nearly 50 percent.
Despite the fall in profit, the company’s long-term financial indicators remained strong. Its life insurance fund increased by 35 percent, reaching Rs 14.84 billion, compared to Rs 10.99 billion in the corresponding quarter of the previous fiscal year.
The insurer reported earnings per share (EPS) of Rs 5, while its net worth per share stands at Rs 116.56, reflecting stable capital strength.