Neco Ins. reports astounding profit rise of 230.16%; reserve fund doubled to 12.34 from 6.65 cr
Mon, Aug 24, 2015 12:00 AM on Others,
ShareSansar, August 24:
Neco Insurance Company Limited (NIL) has reported a massive profit growth of 230.16 percent in the fourth quarter of the last fiscal year 2071/72.
As per the unaudited financial report for the fourth quarter published today, its net profit surged to Rs 12.11 crore in fourth quarter as compared to Rs 3.66 crore in the corresponding quarter of the last fiscal year 2070/71.
The company’s net earnings from premiums grew to Rs 23.17 crore in Q4 from Rs 20.29 crore in the same quarter last year.
The insurance company has paid up capital of Rs 25 crore. Its reserve fund has reached 12.34 crore in Q4, up from Rs 6.65 crore in the previous fiscal year.
NIL policy holders have increased to 51.18 thousand by the end of this quarter from 44.17 thousand reported in the same period of last year.
Neco Insurance EPS stand at Rs 48.46, P/E ratio is at 9.53 times and net worth per share at Rs 202.89.
