SuryaJyoti Life Insurance Reports Increased Profit but Decline in EPS

Kathmandu – SuryaJyoti Life Insurance Company has published its financial results for the second quarter of the current fiscal year, showing a slight improvement in net profit but a decline in earnings per share (EPS).

As of end of Poush month, the company reported a net profit of Rs 196.1 million, a 3.37% increase compared to Rs 189.7 million in the same period of the previous fiscal year. The growth in net profit is attributed to a significant rise in net earned insurance premiums, which increased by 19.83%, and total income, which rose by 19.35%.

However, the company’s net claim payments increased by 22.26%, and total expenses rose by 19.78%, impacting its overall financial performance.

Despite the profit growth, the company’s EPS declined modestly by 70 paisa, reaching Rs 7.83 during the review period. The price-earnings ratio stood at 56.73 times, while the net worth per share was Rs 123.44 as of mid-December.

The company currently holds a paid-up capital of Rs 5.11 billion, with Rs 386.9 million allocated to the disaster fund, Rs 328 million in retained earnings, and Rs 469 million in other equity reserves.