Neco Insurance Q4 financials: net premium rises by 10.91%, Net claim decline by 8.29% and net profit rises by 30.51%
Wed, Aug 19, 2020 6:25 AM on Latest, Company Analysis,
Neco Insurance Limited (NIL) net profit has increased by 30.51% in the fourth quarter of the fiscal year 2076/77. The company net profit has increased from Rs.34.36 Crore in the corresponding quarter to Rs.44.85 Crore in the Q4 of the FY 2076/77.
The net earnings from premium stood at Rs.1.27 arba with a growth of 10.91% till Q4 of FY 2076/77. The company has earned Rs.12.01 Crore from investment, loans, and others while its reinsurance income stands at Rs.25.21 Crore.
Neco Insurance has a paid-up capital of Rs.1.31 Arba with a reserve and surplus of Rs.52.44 Crore. It has Rs.83.16 crore in insurance fund and Rs.7.93 Crore in the contingent fund.
The EPS and net worth per share stand at Rs.34.05 and Rs.208.96. The quarter-end P/E ratio of the company is at 17.83 times.
Major Highlights:
|
Particulars (In Rs '000") |
Neco Insurance Limited |
||
|---|---|---|---|
|
Q4 2076/77 |
Q4 2075/76 |
Difference |
|
|
Paid Up Capital |
1,317,432 |
1,176,278 |
12.00% |
|
Reserve and Surplus |
524,402 |
463,717 |
13.09% |
|
Insurance Fund |
831,694 |
607,428 |
36.92% |
|
Contingent Fund |
79,328.00 |
56,901.00 |
39.41% |
|
Gross Premium |
2,073,600 |
1,916,200 |
8.21% |
|
Net Premium |
1,270,156 |
1,145,192 |
10.91% |
|
Re-Insurance Commission Income |
252,160 |
218,616 |
15.34% |
|
Income from Investment, Loan, and others |
120,147 |
100,991 |
18.97% |
|
Claim Payment (Net) |
508,664 |
1,023,500 |
-50.30% |
|
Agent Commission |
46,844 |
42,433 |
10.40% |
|
Gross Profit |
605,376 |
427,900 |
41.48% |
|
Net Profit |
448,531 |
343,674 |
30.51% |
|
No of Policies |
244,874 |
276,715 |
-11.51% |
|
EPS (In Rs.) |
34.05 |
29.22 |
16.53% |
|
Net Worth per Share (In Rs.) |
208.96 |
195.90 |
6.66% |
|
Qtr End PE Ratio |
17.83 |
- |
- |
|
Qtr End Market Price |
607.00 |
- |
- |
