Day: May 12, 2024

Himalayan Re-Insurance Limited (HRL) has made headlines with its outstanding financial performance in the third quarter of the fiscal year 2080/81. The company reported a staggering 100% surge in net profit, reaching Rs. 93.11 crore, compared to Rs. 46.43 crore in the same period last year.

HRL, a leading player in the insurance sector, displayed a solid financial position with a paid-up capital of Rs. 10 Arba and Rs. 3.18 Arba in share premium. The company’s financial reserves, including retained earnings, special reserves, catastrophe reserves, and other equity, reflect its stability and growth trajectory.

The third quarter saw HRL’s insurance fund reach Rs. 5.9 Arba, coupled with an impressive investment portfolio amounting to Rs. 15.91 Arba. Notably, the company witnessed a substantial surge of 123.96% in net premiums, totaling Rs. 3.49 Arba, showcasing its ability to attract a larger customer base.

However, amidst the impressive financial performance, HRL also experienced a significant increase of 94.61% in net claims, amounting to Rs. 1.6 Arba. Despite this, the company’s key financial indicators, including annualized earnings per share (EPS) and net worth per share, reflect positively on its overall performance.

In addition to its financial achievements, HRL remains committed to delivering quality services to its customers while ensuring sustainable growth in the insurance industry.

In today’s market update, gold prices have surged by Rs. 500 per tola compared to Friday’s rates, according to the Federation of Nepal Gold and Silver Dealers’ Association (FENEGOSIDA). The current value of fine gold stands at Rs. 1,38,400 per tola, reflecting a notable increase from Friday’s price of Rs. 1,37,900 per tola. Similarly, Tejabi gold is now priced at Rs. 1,37,750 per tola, marking a Rs. 500 hike from the previous rate of Rs. 1,37,250 per tola.

The peak price of fine gold was observed on April 19th, 2024, reaching a record high of Rs. 1,39,300 per tola. Conversely, the price of silver has experienced a slight decline of Rs. 10 per tola, with the current market rate at Rs. 1,725 per tola, down from Friday’s figure of Rs. 1,735 per tola.

While domestic market prices continue to climb, global dynamics play a significant role. International figures indicate gold trading at $2,359.70 per ounce, while the global silver price has decreased to $28.13 per ounce.

Muktinath Krishi Company Limited (MKCL) has released its financial report for the third quarter of FY 2080/2081, revealing a remarkable upswing in earnings. The company disclosed a net profit of Rs. 2.12 Crores for the quarter, marking a significant turnaround from the net loss of Rs. 2.99 crores in the corresponding quarter of the previous fiscal year.

MKCL experienced a modest rise in Revenue from Operations, soaring by 110.63 percent to reach Rs. 37.61 Crores. Additionally, other income witnessed a significant rise of 157.16% to attain Rs. 26.11 lakhs.

However, alongside this income surge, the company reported an incline in personnel expenses by 41.52 percent, totaling Rs. 3.88 Crores. Simultaneously, there was an increase in other operating expenses and financial expenses.

MKCL maintains a substantial paid-up capital of Rs. 70 Crores but reports negative other equity of Rs. 4.37 Crores. Notably, MKCL has augmented its investments, reaching Rs. 10.2 Crores.

In terms of financial indicators, MKCL’s annualized Earnings per Share (EPS) inclined to Rs. 4.05, reflecting the improved profitability. Moreover, the Net Worth per Share is reported at Rs. 93.75.

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.

United Ajod Insurance Limited (UAIL) has unveiled its third-quarter financial results for the fiscal year 2080/2081, showcasing a remarkable surge in net profit. The company’s net profit experienced a significant jump of 46.06%, reaching Rs. 27.42 crores compared to Rs. 18.77 crores in the same quarter of the previous fiscal year.

UAIL boasts a paid-up capital of Rs. 1.90 Arba and significant reserves, including Rs. 28.54 Crores in retained earnings, Rs. 71.63 Crores in other equity, Rs. 4.05 crores in catastrophe reserves, and Rs. 93.42 Crores as special reserves.

During the quarter under review, UAIL witnessed a notable increase of 81.57% in net premiums, amounting to Rs. 78.44 Crores in Q3 FY 2080/81 compared to the corresponding period last year. The company also generated Rs. 25.68 Crores from income derived from investments, loans, and other financial activities.

However, there was a significant 116.53% increase in net claims during the quarter, totaling Rs. 35.79 Crores. Notably, UAIL augmented its investments, reaching Rs. 4.59 Arba.

Key financial metrics further underscore UAIL’s strong performance, with an annualized earnings per share (EPS) of Rs. 19.20 and a net worth per share of Rs. 203.78.