Liberty Micro Life Insurance Reports 28.67% Drop in Q2 Profit Despite Surge in Income

Kathmandu – Liberty Micro Life Insurance has published its financial statement for the second quarter of the current financial year, revealing a notable decline in profit despite a significant increase in overall income.

The company recorded a profit of Rs 5.25 million during this period, marking a 28.67% decrease compared to the Rs 8.2 million profit earned in the corresponding quarter of the previous financial year.

However, Liberty Micro Life Insurance saw substantial growth in its income, which surged from Rs 21 million in the second quarter of the last financial year to Rs 91.6 million in the same period this year. The company’s net insurance fee earnings also rose significantly, jumping from Rs 2.64 million to Rs 67.4 million.

As per the financial statement, the company’s life insurance fund stands at Rs 52.5 million. Liberty Micro Life Insurance currently has a paid-up capital of Rs 525 million, while its retained earnings amount to Rs 138 million.