Prabhu Insurance (PRIN), a prominent player in Nepal’s non-life insurance sector, has released its third-quarter report for the current fiscal year, showcasing a remarkable financial performance. The company’s net profit soared by an impressive 237.18 percent, reaching Rs 391.4 million during the review period, compared to Rs 116.1 million in the corresponding period of the previous fiscal year.
The staggering growth in net profit can be attributed to PRIN’s robust performance across key revenue streams. During the quarter, the company’s net insurance premium witnessed a 21.54 percent year-over-year increase, amounting to Rs 464.3 million, reflecting its strong underwriting capabilities and market penetration.
Additionally, PRIN’s investment and loan income surged by 48.30 percent, reaching Rs 116.3 million, showcasing the company’s effective investment strategies and portfolio management.
PRIN’s solid financial foundation is supported by a paid-up capital of Rs 1.37 billion and retained earnings of Rs 103.4 million. The company reported an impressive earnings per share (EPS) of Rs 37.93, a price-to-earnings (P/E) ratio of 20.96 times, and a net worth per share of Rs 224.67, demonstrating its ability to generate substantial value for its shareholders.
The stellar financial performance of Prabhu Insurance underscores the company’s agility in capitalizing on the growing demand for non-life insurance products in Nepal. With a diverse range of offerings, including property, liability, and casualty insurance, PRIN is well-positioned to capture a larger market share and drive sustained growth.
Analysts and industry experts will closely monitor PRIN’s strategic initiatives, product innovations, and risk management strategies as the company aims to maintain its momentum and solidify its position as a leading non-life insurance provider in Nepal.
