Net profit of LIC Nepal grows by 49%

Kathmandu February 8- Private sector life insurance Company LIC Insurance Corporation's net profit has increased by 49.65% to Rs. 32.6 million in the second quarter of current FY which was Rs. 21.7 million in the corresponding period of previous FY.

 Company has paid up capital of Rs. 855 million 562 thousands and has balance of Rs. 197.4 million in its reserve fund. Income of the company has increased by 31.49% to Rs. 54.1 million which was Rs. 41.1 million in the last year. Similarly, expense of the company has increased by 11.10% to Rs. 21.5 million which was Rs. 19.3 million in the previous year. During the period, company has earned Rs. 2 billion 906 million (net) insurance premium which was Rs. 2 billion 357.9 million in the last year. Company has paid Rs. 295.3 million insurance claims during the period which was Rs. 236.7 million in previous FY.

Company has issue 556 thousands 989 insurance policies during the period which is more than the previous FY. Company has made payment to 3351 insurance claims. Company's EPS is Rs. 3.81, P/E ratio of 918 times and net worth per share is Rs. 122.96.