LIC Nepal Records 3.81% Increase in Profit in Second Quarter

Kathmandu – Life Insurance Corporation (Nepal) Limited (LIC) has reported a 3.81 percent rise in net profit for the second quarter of the current fiscal year, as per its recently released financial statements. The company’s net profit increased from Rs 136.6 million in the same period last year to Rs 141.8 million this year.

The rise in profit is attributed to growth in both total income and net premium income. LIC’s total income surged to Rs 15.68 billion this fiscal year, up from Rs 14.41 billion in the previous fiscal year. Similarly, the company’s net premium income climbed to Rs 9.40 billion, marking an increase from Rs 8.62 billion during the same period last year.

The growth in earnings is reflected in the company’s earnings per share (EPS), which rose from Rs 10.30 in the previous fiscal year to Rs 10.69 this year. LIC’s share capital currently stands at Rs 2.65 billion, while it has accumulated a share premium of Rs 60 million, retained earnings of Rs 2.63 billion, and a disaster fund exceeding Rs 580 million.

The company’s life insurance fund also witnessed significant growth, expanding from Rs 113.46 billion in the previous fiscal year to Rs 127.27 billion in the current fiscal year. LIC’s net worth per share is valued at Rs 242.46, underscoring its strong financial position.