United Insurance EPS shrinks to Rs 4.87; Net worth per share at Rs 137.23

United Insurance Company Limited (UIC) has stated slide in net profit by 10.90 % till the end of first quarter of the current FY 2074/75. As per the unaudited financial report of the insurance company published today, its net profit amounts to Rs 1.47 crore in Q1 of the FY 2074/75 from Rs 1.65 crore in corresponding Q1 of FY 2073/74. On the other hand, its net premium earning amounts to Rs 9.86 crore from Rs 10.93 crore. As of the end of Q1 this year, it’s paid up capital stand at Rs 30.24 crore. Its reserves and surplus is negative at Rs 6.94 crore and insurance fund amounts to Rs 17.50 crore from Rs 14.38 crore. UIC has paid claims worth Rs 6.40 crore this year. UIC had distributed 10% bonus shares to its shareholders from the profit it had earned in the FY 2072/73. As per Insurance Board’s directive for all non-life insurance companies to increase their paid up capital to a minimum of Rs 1 arba by the end of FY 2074/75, UIC will need to issue a further capital hike of around Rs 70 crore (around 233.33%). It had already announced 100% right shares to its shareholders. Its current earning per share (EPS) stands at Rs 4.87 and net worth per share stands at Rs 137.23, while P/E ratio is at 266.90 times.