Prabhu Mahalaxmi Life’s Profit Increased by 50 Percent, adding Capital to Long-Term Investments
Kathmandu : Prabhu Mahalakshmi Life Insurance Company has released the financial statement for the first quarter. According to the financial statement of NFRS for the first quarter, the company’s profit has increased by 50 percent during this quarter.
It has managed to earn a profit of 10 crore rupees during this quarter. In the same period of the last financial year, the company has managed to earn a profit of 65.5 million rupees.The company’s total premium income has doubled. During the period of three months, according to NFRS, the company has managed to earn a total insurance fee of 1 billion 15 crore rupees. In the same period of the last financial year, the company had earned a total insurance fee of 53 crore 72 lakh rupees.
If we look at the basis of net insurance fee, even if we look at the period of the first quarter, it has been seen that there has been an increase of 100 percent. 1 billion 12 billion rupees has been earned in net insurance fee. During the same period of the last financial year, the company earned a net insurance fee of Rs.51 crore 21 lakh.
The paid up capital of the company is 4 billion 29 million rupees, 7 billion 86 million rupees in the insurance fund, 7 million 92 million rupees in the disaster fund and 59 million 71 million rupees in the reserve fund. During the same period of the last financial year, the company had allocated an amount of 78.6 million rupees.
According to the financial statement of the first quarter, the company’s earnings per share are 9 rupees 35 paise. The net worth per share is 118 rupees 14 paise.During this period, the company has managed to earn 21 crore 39 lakh rupees, 2 crore 21 lakh single insurance fee and 93 crore 76 lakh rupees renewal insurance fee.
The company has tripled its long-term investment portfolio. Last year, the company made a long-term investment of 3 billion 93 million rupees, increasing the scope to 9 billion 90 million rupees this year.