Asian Life Insurance Company Limited (ALICL) has unveiled its third-quarter financial report for FY 2080/2081, showcasing an impressive surge of 254.92% in net profit. The company’s net profit soared to Rs. 69.11 crores, marking a substantial increase from the Rs. 19.47 crores recorded in the corresponding quarter of the previous fiscal year.
ALICL maintains a significant paid-up capital of Rs. 3.15 Arba and notable reserves, comprising Rs. 92.09 Crores in retained earnings, Rs. 3.82 lakhs in other equity, and Rs. 26.34 Crores in catastrophe reserves.
During the reviewed period, ALICL experienced a remarkable incline of 10.50% in net premiums, reaching Rs. 5.61 Arba in Q3 FY 2080/81 compared to the previous year. Additionally, the company demonstrated financial astuteness by generating Rs. 2.52 Arba from income derived from investments, loans, and other financial activities.
However, the quarter also witnessed a noteworthy 6% increase in net claims, totaling Rs. 6.84 Arba. Similarly, commission expenses declined by 3.87%, reaching Rs. 50.15 Crores.
Key financial metrics further underscore ALICL’s performance, with an annualized earnings per share (EPS) of Rs. 29.20. Moreover, the net worth per share stands at Rs. 138.75, while the Price-to-Earnings (P/E) ratio stood at 19.19 times.