Kathmandu. Asian Life Insurance Company Limited (LIC) has published its unaudited financial results for the second quarter of the current FY. According to the report, the net profit of the insurance company increased by 5.30 percent to Rs 26.35 crore compared to the same period of the last FY.

The company had posted a net profit of Rs 25.03 crore in the same quarter last year. In the review period, the insurance company’s net earned premium increased by 11.40 percent to Rs 4.64 billion. In the first six months of the last fiscal year, the company earned Rs 4.17 billion in premiums.

Similarly, the company has increased its net claim payment by 7.72% to Rs 5.23 billion. The company had paid claims worth Rs 4.85 billion in the same period last year.

Despite the increase in profit, the profit per share of the insurance company has decreased. In the review period, the insurance company’s income decreased by Rs 4.18 to Rs 10.54. The company’s earnings per share have decreased due to the failure to increase the net profit compared to the paid-up capital. As of mid-January, the insurance company has P/E ratio of 44.94 times and net worth per share of Rs 128.73.

The company has paid-up capital of Rs 5.11 billion and share premium of Rs 10.99 crore, Maha Disaster Fund of Rs 31.38 crore, reentered earnings of Rs 91.90 crore and other equity of Rs 9.40 crore.