Jyoti Life improves performance in Q3, Profit exceeds Rs.206 million

Kathmandu: Jyoti Life Insurance(JLI) has Rs. 206.5 million in profit in the third quarter of the current fiscal year. There’s an increase of 71 percent as compared to the the third quarter of last fiscal year. JLI had earned Rs. 127 million on 3Q of last fiscal year 78/79.

During the review period, the insurance company earned a total premium of Rs 2.63 billion. Compared to the third quarter of the last fiscal year, the total insurance premium earned by insurance has increased by 15 percent. Insurance has earned Rs. 177.6 million from investment, loan disbursement and other income sources till April end. JLI has earned Rs. 2.49 billion insurance premium which is 13 percent up as compared to the same period of last fiscal year.

During the review period, JLI has paid Rs. 264.6 million against 933 claims. Rs. 48.5 million is yet to be paid against 99 claims. It’s EPS during 3Q remained Rs. 11.38 and net worth per share at Rs. 127.09. Based on the last trading price of Rs 499 in the stock market, the price-to-earnings ratio of insurance is 44 times.

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