Everest Insurance income dips to Rs 87.17 lakhs on Q2 of 71/72

ShareSansar, February 24:

Everest Insurance Company Limited (EIC) has reported a loss in income for the second quarter of the fiscal year 2071/72. The insurance company’s net income fell from Rs 2.96 crore in the corresponding quarter last year to Rs 87.17 lakh.

The insurance company’s policy subscribers increased to 2,550 in the 2nd quarter of this fiscal year, a marked growth from 1,407 subscribers in the same quarter last year. However, the non life insurance company’s earnings from premiums fell to Rs 4.12 crore from Rs 6.58 crore.

Everest Insurance’s paid up capital stands at Rs 10.09 crore and the company has posted a reserve fund of Rs 11.33 crore.  

The insurance company’s annualized EPS stands at Rs 8.64 and net worth per share at Rs 252.06.

Everest Insurance during its special General Meeting held on Mangsir 23, 2071 endorsed 1:1.5 right shares for its existing shareholders with a view to raise its authorized capital to Rs 40 crore from Rs 15 crore and issued capital to Rs 30 crore from the existing Rs 10.50 crore.