Prabhu Mahalaxmi Life Insurance Reports 25.74% Profit Growth In First Quarter

Kathmandu – Prabhu Mahalakshmi Life Insurance Limited has published its financial results for the first quarter of the current fiscal year, showing a significant 25.74% increase in profit compared to the same period last year. The company’s profit reached NPR 126.2 million, up from NPR 100.3 million earned in the previous year.

The company’s life insurance fund saw a boost with the increase of 8.23 percent and reached upto NPR 111.3 billion. The total income rose to NPR 12.58 billion, up from NPR 11.72 billion in the same quarter last year.

The paid-up capital of NPR 47.2 billion and retained earnings of NPR 622.5 million, Prabhu Mahalakshmi has also shown resilience in claim management, having paid NPR 323.5 million in claims to policyholders by the end of the month.

Operating expenses also increased, rising from NPR 13.1 billion to NPR 14.5 billion during the review period. Despite the rise in expenses, the company reported an improvement in earnings per share, which increased from NPR 9.35 to NPR 10.69, while net worth per share stood at NPR 119.34.

The figures underscore Prabhu Mahalakshmi Life Insurance’s robust financial position as it continues to deliver value to shareholders and policyholders alike, navigating the insurance sector’s demands with a focus on growth and customer service.