Blogs
Citizen Life Insurance Company Reports Strong Q2 Performance in FY 2081/82
Citizen Life Insurance Company Limited (CLI) has delivered an outstanding financial performance in the second quarter of the fiscal year 2081/82. The company reported an 86.78% growth in net profit, reaching Rs. 23.09 crores, compared to Rs. 12.36 crores in the same period last year. This remarkable growth highlights CLI’s strong operational efficiency and financial management. Below is a detailed breakdown of its performance:
1. Key Financial Highlights
- Net Profit: Increased by 86.78% to Rs. 23.09 crores (up from Rs. 12.36 crores in Q2 of FY 2080/81).
- Net Premiums: Grew by 23.31% to Rs. 3.18 Arba.
- Income from Investments, Loans, and Other Activities: Generated Rs. 95.06 crores, contributing to overall revenue.
2. Financial Position
- Paid-up Capital: Stood at Rs. 3.93 Arba.
- Share Premium: Amounted to Rs. 1.55 Arba.
- Reserves:
- Retained Earnings: Rs. 83.8 crores.
- Other Equity: Rs. 63.88 crores.
- Catastrophe Reserves: Rs. 19.28 crores.
3. Expenses
- Net Claims: Increased by 23.31% to Rs. 3.21 Arba.
- Commission Expenses: Rose by 15.59% to Rs. 31.85 crores.
Despite these rising costs, CLI managed to maintain strong profitability, showcasing its ability to balance growth and expense management.
4. Key Financial Indicators
- Earnings Per Share (EPS): Annualized EPS stood at Rs. 11.73, reflecting the company’s profitability.
- Net Worth Per Share: Rs. 181.82, indicating the value of each share based on the company’s net assets.
- Price-to-Earnings (P/E) Ratio: 59.24, suggesting the stock’s valuation relative to its earnings.
Comparison of Key Financial Highlights for Q2 of FY 2081/82 and the Previous Fiscal Year
ConclusionCLI’s strong Q2 performance, highlighted by a significant jump in net profit and steady growth in net premiums, reflects its strong financial health. Although net claims and commission expenses have also increased, the company’s solid financial base and key indicators, such as EPS and net worth per share, signal a positive outlook for future growth.
The deadline for the ongoing rights share issue of Chhyangdi Hydropower Limited (CHL) has been officially extended until 27th Ashad, 2082. The issue had originally opened on 23rd Jestha, 2082, with an earlier closing date set for 12th Ashad, 2082.
Key Details of the Rights Share Issue
| Details | Information |
|---|---|
| Total Right Shares Issued | 3,869,775 units (1:1 ratio) |
| Face Value per Share | Rs. 100 |
| Total Issue Amount | Rs. 38.69 Crore |
| Current Paid-up Capital | Rs. 38.69 Crore |
| Post-Issue Paid-up Capital | Rs. 77.39 Crore |
As per the Central Depository System and Clearing Limited (CDSC), 23,503 applicants have applied for 2,317,902 units (worth Rs. 23.17 Crore) as of yesterday.
Eligibility and Application Process
Only those shareholders who held shares before the book closure date of 2nd Jestha, 2082, are eligible for this right share offering.
Interested shareholders can apply through:
- Global IME Capital Limited, Naxal, Kathmandu (Issue Manager)
- Designated branches of Global IME Bank Limited across Lamjung, including Besisahar, Sundarbazar, Bhulbhule, Siundibar, Udipur, and Dordhi
- Any C-ASBA-approved banks and financial institutions
- Online via “MeroShare”.
Applicants are advised to complete the process before banking hours on 27th Ashad, 2082 (Friday).
Important Note:
Payments must be made through an account payee cheque drawn in the name “GICL-BOK-CHHYANGDI RIGHT SHARE”, as per the instructions from Global IME Capital Ltd.
Contact Information
- Chhyangdi Hydropower Ltd
Phone: 977-01-4526483 / 4524925
Email: [email protected] | Website: www.chpl.com.np - Global IME Capital Ltd (Issue Manager)
Phone: 977-01-5970138
Email: [email protected] | Website: www.globalimecapital.com
Notice: Chhyangdi Hydropower Extends Deadline for Rights Share Application
The Election Commission of Nepal has begun preparations for by-elections to fill vacant positions at various levels of government. As part of this process, the Commission is urging all eligible Nepali citizens who have not yet registered their names in the voter list to do so immediately.
According to the Assistant Spokesperson of the Election Commission, Mr. Durga Prasad Chalise, individuals will not be allowed to register in the voter list once the election date is officially announced. Therefore, he emphasized the importance of early registration to avoid being left out.
The Election Commission recently held discussions with the Prime Minister, Mr. KP Sharma Oli, and the Acting Chief Election Commissioner, Mr. Ram Prasad Bhandari. They talked about setting a date for the by-elections. The main focus was on two key areas: Rupandehi Constituency No. 3 for the House of Representatives and Manang Province Assembly Constituency No. 1 (B). Elections in these regions are likely to be held in the second week of Kartik.
The position in Rupandehi became vacant after the passing of Rastriya Prajatantra Party MP Deepak Bohora. In Manang, the seat became empty after provincial assembly member Deepak Manange was sent to jail. In addition to these, more than a dozen ward chairman positions are also currently unoccupied in various local governments.
The Election Commission has issued a public notice dated 2082/03/11 (Nepali calendar) urging all citizens to register in the voter list immediately. The notice mentions that, according to Clause 4(2)(2) of the Voter List Act, 2073, voter registration will be stopped as soon as the election date is declared.
Hence, this is a final chance for anyone who missed earlier opportunities to register. The Commission has made a heartfelt appeal to all brothers and sisters across the country to take this opportunity seriously and get their names included in the voter list.
The Election Commission assures that the upcoming elections will be conducted fairly and freely, in line with its guiding principle:
“Free and Fair Election: Pride of the Nation.”
For more information or assistance, people can visit the official website of the Election Commission at www.election.gov.np or contact their office at Kantipath, Kathmandu.
Notice: Election Commission Preparing to Announce By-Election Date
The Birgunj Customs Office has collected the highest revenue from the import of petroleum products in the first 11 months of the current fiscal year 2081/82. According to the office, a total of NPR 73.18 billion was collected in revenue from petroleum imports alone.
During this period, Nepal spent about NPR 174.09 billion to import five different types of petroleum products. These petroleum imports contributed 46.43% of the total revenue collected from the top 20 imported items, making it the most important source of income for the customs office.
Major Revenue Contributors from Imports
What Officials Say
Customs Chief Administrator Deepak Lamichhane stated that petroleum products and vehicle imports are the main sources of customs revenue at Birgunj. He highlighted that these two sectors consistently contribute the highest share of government income collected through imports.
Conclusion
The data from the Birgunj Customs Office shows that fuel and vehicles remain Nepal’s most heavily imported and taxed items. With more than 46% of the revenue coming from petroleum alone, any changes in fuel prices or import volumes can significantly affect national customs revenue.
Chhyangdi Hydropower Extends Deadline for Rights Share Application | Until 27th Ashad
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Birgunj Customs Office Collects Highest Revenue from Petroleum Imports
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