Nepal Life Insurance Company has declared bonus for its shareholders. The meeting of the board of directors held on Falgun 13, 2074 has declared 42% bonus shares and 28.53% cash dividend for the shareholders from the net profit of FY 2073/74.
The decision is awaiting approval from the Insurance Board and its General meeting.
The insurance company has reported a net profit of Rs 27.96 crore in the second quarter of the current fiscal year. Currently, it has a paid up capital of Rs 3.09 arba with reserve of Rs 5.02 arba. After the issuance of 42% bonus shares, its paid up capital will reach Rs 4.38 arba.
Insurance net profit in Q2 rise by 82.74% to Rs 27.96 crore
Nepal Life Insurance Company Limited (NLIC) has posted excellent 82.74% rise in net profit for the second quarter of the current fiscal year 2074/75. It has earned net profit of Rs 27.96 crore in the Q2 of current fiscal year, up from Rs 15.30 crore in the corresponding period last year.
As per the unaudited report for the second quarter published today, NLIC has a paid up capital of Rs 3.09 arba with reserve of Rs 5.02 arba. Likewise, the company’s insurance fund has increased to Rs 45.63 arba from Rs 35.17 arba in the corresponding quarter.
The net earnings from premium rose to Rs 7.14 arba in Q2 from Rs 4.85 arba in the corresponding quarter.
The company managed to hike its number of policy holders to 10.80 lakh from 10.09 lakh in the corresponding quarter.
Its annualized EPS has stands at Rs 18.06, net worth per share at Rs 272.93 and P/E ratio is 98.87 times.