Citizen Life Insurance Records Significant Profit Growth,
Author
Nepse trading
Citizen Life Insurance Limited (CLI) has released its unaudited financial statement for the second quarter of the fiscal year 2081. The report highlights significant growth in profits compared to the same period last year.
Net Profit:
In the first six months of the current fiscal year, the company earned a net profit of Rs. 230.9 million, marking an 86.78% increase compared to the same period last year.
During the corresponding period of the previous fiscal year, the company had a net profit of Rs. 123.67 million.
Premium Collection and Total Income:
During the review period:
The company’s net earned premium grew by 23.69%, reaching Rs. 3.1816 billion.
Total income increased by 24.64%, reaching Rs. 4.1894 billion.
Expenses and Claim Payouts:
Net benefits and claims paid rose by 23.31%, amounting to Rs. 3.2182 billion.
Total expenses increased by 22.27%, reaching Rs. 3.9585 billion.
Earnings Per Share (EPS) and PE Ratio:
With the rise in profits, the company’s EPS also improved. As of the second quarter of the current fiscal year:
EPS increased by Rs. 5.13, reaching Rs. 11.73.
The company’s price-to-earnings (PE) ratio stands at 59.24 times.
Net worth per share is Rs. 181.82.
Financial Summary:
Key financial details of the company include:
Paid-up capital: Rs. 3.9375 billion.
Share premium: Rs. 1.522 billion.
Catastrophe reserve: Rs. 192.8 million (up by 13.61%).
Retained earnings: Rs. 838 million (up by 32.50%).
Other equity: Rs. 638.9 million (down by 5.48%).
Citizen Life Insurance Limited has demonstrated robust growth in profits, premium income, and effective expense management, thereby strengthening its financial position. The company is expected to achieve even greater stability and performance in the coming days.
