Suryajyoti Life Reports 11% Rise in Profit, Key Financial Indicators Improve
Kathmandu – Suryajyoti Life Insurance Company Limited has released its third-quarter financial results for the current fiscal year, covering the period up to mid-April (end of Chaitra). The report shows broad-based growth across most financial indicators compared to the same period last year.
Net profit rose by 11.69% year-on-year to NPR 330.3 million, up from NPR 295.7 million recorded by mid-April (end of Chaitra) last year. The increase was driven primarily by higher income.
Net insurance premiums grew by 14.67%, reaching NPR 8.61 billion, compared to NPR 7.51 billion in the corresponding period of the previous fiscal year.
Total income increased by 10.64% to NPR 11.59 billion, while total expenses rose by 11.10% to NPR 11.02 billion during the review period.
Earnings per share (EPS) improved to NPR 8.79 from NPR 7.87 a year earlier. Net worth per share stands at NPR 125.49. The company’s paid-up capital is NPR 5.01 billion, with NPR 453 million allocated to the catastrophe fund and NPR 534 million held in reserves.