Protective Micro Insurance Limited Achieves Significant Profit Growth, Eyes IPO Launch
Protective Micro Insurance Limited, a micro insurance company awaiting IPO approval, has released its financial results for the fiscal year ending Asar. The company reported a profit of 12.75 lakh rupees, marking an impressive 79.59% increase compared to the previous year’s profit of 7.10 lakh rupees. This news is exciting for investors and those following the Nepali stock market.
This substantial growth demonstrates the strength of Protective Micro Insurance Limited‘s business model and its ability to navigate the insurance market. The company’s success can be attributed to several key factors.
One of the major drivers of this positive performance is the significant increase in insurance premium collection. Premium collection surged from 47.30 lakh rupees to a remarkable 5.67 crore rupees. This indicates a growing customer base and increased demand for their micro insurance products. Furthermore, the company also experienced a rise in commission income, indicating effective sales and distribution strategies.
Investment and loan income also saw an increase, reaching 4.52 crore rupees. This diversified revenue stream contributes to the company’s overall financial health and profitability. The financial performance highlights the company’s ability to generate returns from its investments, a key aspect of any insurance company’s financial stability.
Currently, Protective Micro Insurance Limited boasts a paid-up capital of 52.50 crore rupees. The retained earnings stand at 5.33 lakh rupees, and the special reserve totals 23.19 lakh rupees. The earnings per share (EPS) currently stand at 0.24 paisa. This information is critical for potential IPO investors evaluating the company’s financial health.
The company is now seeking approval from the Securities Board of Nepal (SEBON) to launch its Initial Public Offering (IPO). They plan to offer 22.50 lakh shares to the public. This IPO represents an opportunity for the public to invest in a growing micro insurance provider and potentially benefit from its future success. IPO news in Nepal is always eagerly anticipated by stock market enthusiasts. The IPO process will be a key event to watch in the coming months. Stay tuned for more updates on the IPO and the future of Protective Micro Insurance Limited! This is a key financial update for those interested in microfinance and insurance in Nepal.
