National Insurance Company posts net profit of Rs.6.41 Crore in Q1; net earnings from premium falls

National Insurance Company Limited has published its first quarter report for the fiscal year 2076/77. The insurance company has reported a net profit of Rs.6.41 Crore in the Q1 report which was at Rs.1.70 Crore in the corresponding quarter of the previous fiscal year.

As per the unaudited report for the first quarter published today, National Insurance has negative Rs.45.22 Crore in the reserve. Likewise, the company’s insurance fund has increased to Rs.1.02 Arba from Rs.99.83 Crore in the first quarter of the previous year.

The net earnings from premium fell to Rs.20.23 Crore in Q1 from Rs.26.75 Crore in the corresponding quarter.

The company’s number of policy holders has decreased to 4,578 from 6,409 in the corresponding quarter of the previous year.