IME Life Insurance Company Limited (ILI) has announced its third-quarter financial results for the fiscal year 2080/2081, showcasing a remarkable surge of 75.79% in net profit. The company’s net profit surged to Rs. 33.15 crores from Rs. 18.86 crores in the corresponding quarter of the previous fiscal year, demonstrating strong growth and financial performance.
ILI’s financial overview reveals a solid foundation, with a paid-up capital of Rs. 4 Arba and a notable share premium of Rs. 1.52 Arba. The company also maintains substantial reserves, including retained earnings, other equity, and catastrophe reserves, ensuring financial stability and resilience.
During the period, IME Life witnessed a significant uptick of 7.79% in net premiums, reaching Rs. 3.11 Arba in Q3 FY 2080/81 compared to the preceding year. Additionally, the company generated Rs. 96.13 Crores from income derived from investments, loans, and other financial activities, showcasing its financial acumen and revenue generation capabilities.
However, the quarter also saw a noteworthy 14.10% increase in net claims, totaling Rs. 2.93 Arba, highlighting the challenges faced by the insurance sector.
Key financial metrics further underscore ILI’s performance, with an annualized earnings per share (EPS) of Rs. 11.05, net worth per share of Rs. 177.25, and a P/E ratio of 49.80 times. The company’s solvency ratio stands at 2.80, reflecting its financial stability and ability to meet its obligations.
ILI’s impressive performance in the third quarter reflects its strong growth trajectory and market competitiveness in the insurance industry. With a focus on profitability, financial stability, and customer satisfaction, IME Life Insurance continues to strengthen its position as a leading player in the insurance sector.