Kathmandu. Neco Insurance for the financial year 2082. The company has made public the unaudited financial statements for the third quarter (July-March) of 2018.
According to the company’s financial report, the company has earned a net profit of Rs 16.39 crore in the first nine months of the current FY. Previous fiscal year 2081. The company had posted a net profit of Rs 36.93 crore in the same period. The company’s profit decreased by 55.61 percent compared to the previous year.
The company has a paid-up capital of Rs 2.77 billion and a total of Rs 11.17 crore in share premium, Rs 2.34 billion in special reserve, Rs 170.2 million in disaster fund, Rs 370 million in retained earnings and Rs 416.2 million in other equity. As of mid-July of the previous year, the company had posted a net profit of Rs 11.17 crore in premium, Rs 2.31 billion in special reserve, Rs 16.71 crore in catastrophe fund, Rs 76.77 crore in retained earnings and Rs 43.42 crore in other equity.
As of mid-April of the current FY, the company’s insurance fund stood at Rs 5.13 billion. The company had posted a net profit of Rs 3.53 billion in the same period last year. The size of the insurance fund has increased by 45.14 percent.
In the review period, the company earned a total income of Rs 2.12 billion in total insurance premiums. The company had collected Rs 2.16 billion in insurance premiums in the same period last year. The company’s total premium decreased by 1.64 percent compared to the previous year.
The company has earned Rs 1.22 billion in net insurance premium during the review period. The company had collected Rs 1,227 crore in net insurance premium in the same period last year. Compared to the previous year, the company’s net premium income decreased by 0.07 percent.
The company’s annualized earnings per share (EPS) has decreased to Rs 17.74 as of mid-April of the current FY. Last year, the EPS was Rs 24.47. The company has a net worth of Rs 223.11 with a P/E ratio of 36.07 times.
