Due to high claim payment NLG Insurance net profit decline by 4.61% in Q2
Wed, Feb 13, 2019 9:56 AM on Financial Analysis, Latest, Stock Market,
NLG Insurance Company Limited (NLG) published its second-quarter report for FY 75/76. The company posted a net profit of Rs 8.34 Crore against a net profit of Rs 8.74 Crore posted last year marking a fall of meager 4.61% in the net profit of the company.
The paid-up capital of the company stands at Rs.64.04 Crore which increased by 25% as compared to the previous year. The company had a paid-up capital of Rs.51.23 Crore last year. The reserves and surplus stood at Rs 16.42 Crore as compared to Rs 17.75 Crore of corresponding quarter.
Other key financials post by the company stand as follows:
- Earnings per Share is Rs 25.39.
- P/E ratio is 32.40 times.
- Net worth per Share is Rs 251.25.
- Liquidity Ratio is 1.84
Its income from premium (net) has decreased from Rs 36.56 crore to Rs 35.80 crore at the end of Q2 this year. Its income from reinsurance commission has increased to Rs 12.40 crore from Rs 10.04 crore in the last corresponding quarter.
It has made claim payment worth Rs 23.48 crore to 2,481 policies whereas the same amount stands at Rs 14.47 crore and it has provisioned Rs 18.43 crore for pending claims.
