Kathmandu. Nepal Insurance Company Limited (NI) is providing insurance coverage for the current fiscal year 2082. The company has made public the unrevised financial statements for the third quarter (July-March) of 83 B.S.
According to the financial report, the company has earned a profit of Rs 10.60 crore in the third quarter of the current FY. Previous fiscal year 2081. The company had posted a net profit of Rs 17.84 crore in the same period. The company’s profit decreased by 40.59 percent compared to the previous year.
As of the third quarter of the current FY, the company has special reserve of Rs 1.56 billion, catastrophe fund of Rs 11.74 crore, retained earnings of Rs 4.58 crore and other equity of Rs 4.76 crore. As of mid-July last year, the company had collected Rs 1.51 billion in special reserves, Rs 112.1 million in disaster fund, Rs 162.9 million in retained earnings and Rs 78.9 million in other equities.
The company’s insurance fund stood at Rs 2.47 billion in the review period. In the previous year, the insurance fund stood at Rs 1.96 billion. The size of the company’s insurance fund increased by 26.26 percent in the review period compared to the previous year.
The company earned Rs 1.45 billion in total insurance premiums in the third quarter. In the same period last year, the company earned a net profit of Rs 1,27.97 billion. The company’s total premium has increased by 14.05 percent compared to the corresponding period of the previous FY.
During the review period, the company earned a net insurance premium of Rs 76.87 crore. The company had earned a net profit of Rs 59.23 crore in the same period last year. Compared to the previous year, the net insurance premium has increased by 29.77 percent.
The company’s earnings per share (EPS) has decreased to Rs 5.55 from Rs 2.54 billion. In the previous year, the EPS was Rs. 12.58. The company has a net worth of Rs 173.04 with a P/E ratio of 90.35 times.
