NLG Insurance earns Rs 16.24 crore in Q4; EPS stands at Rs 47.55 despite of massive claim

ShareSansar, August 19:

NLG Insurance Company Limited (NLG) stated meager 6.03 percent decline in its net profit for the fourth quarter of the last fiscal year 2071/72.

In the unaudited fourth quarterly financial report published today, the non-life insurance company has stated decrease in the net profit to Rs 16.24 crore as compared to Rs 17.28 crore in the corresponding quarter of FY 2070/71.

Despite the claims payment of Rs 26.99 crore arises due to April earthquake, the company has suffered only the minor loss, thanks to NLG’s effective policy regarding re-insurance.

The company has able to collect Rs 49.66 as insurance premium which is the growth of 6.25%  where as its insurance fund rises from Rs 27.52 crore to Rs 35.64 crore and the reserve also increased to Rs 13.05 crore from Rs 9.38 crore as compared to corresponding quarter of the last fiscal year 2070/71.

Till fourth quarter NLG’s has 1.45 lakh policyholders whereas there was only 1.43 lakh policyholder previous fiscal year.

The company’s EPS stands at Rs 47.55; net worth per share is Rs. 246 and the P/E ratio is 11.76 times.

The company’s still has Rs 89.51 crore pending claims which need to be settled.