Nepal Insurance Company Limited has published Second quarter report of Fiscal year 2075/76. It has reported increase in net profit by 71.20% in comparing period.
As per the report, the insurance company has posted net profit of Rs. 7.32 crore in the Q2 of FY 2075/76 from Rs. 4.27 crore in same period of last fiscal year 2074/75.
Net insurance premium has risen to Rs.24.01 crore from Rs. 18.50 crore in the same period of last year. It has earned Rs.3.84 crore from investment in Q2 which was Rs.2.15 crore in the last year. Commission income from re-insurance company stands at Rs.8.19 crore.
The company has made a payment of Rs.9.82 crore for claims and agent commission of Rs.1.37 crore. Its operating expanse increase to Rs.8.65 crore in Q2.
The company still remains to pay claims of Rs.1.13 arba for 1923 claims.
Currently, its paid up capital is Rs.61.76 crore with reserves of Rs.27.36 crore. It is set to issue 65% right shares after right issue, paid up capital will reach to Rs.1.02 arba.
It has maintained Rs.23.14 crore in the insurance fund.
Its annualized earning per share stands at Rs.11.86 & net worth per share is Rs.181.77, PE ratio stands at 46.88 times.
