Everest Insurance 32% rise in net profit for Q3 of FY 2075/76; Net worth stands at Rs 230.77 with PE ratio of 65.01 times

Tue, May 7, 2019 1:23 PM on Financial Analysis, Latest, Stock Market,

Everest Insurance Company (EIC) has reported a rise in net profit by 32.36% in the third quarter of the FY 2075/76.

As per the unaudited report for the third quarter, the non-life insurance company reported a net profit of Rs 4.01 crore in Q3 of fiscal year 2075/76, from Rs 3.03 crore of the corresponding quarter in last fiscal year. It's paid up capital stands at Rs 27.39 crore.

The reserve fund of the company has increased to Rs 13.08 crore from the corresponding years' Rs 10.49 crore. The company’s insurance fund has increased to Rs 21.69 crore from Rs 19.1 crore in the corresponding quarter of the previous year.

The company’s earnings from premium (net) increased to Rs 29.48 crore in Q3 from Rs 7.84 crore in the corresponding quarter of last fiscal year.

The company has made claim payment (net) worth Rs 7.26 crore whereas the same amount stood at Rs 2.64 crore in the corresponding quarter.

The number of policies of EIC is 63,981 with 79.7% growth compared to the corresponding quarter.

Its EPS stands at Rs 14.66 while its PE ratio is at 65.01 times. The net worth per share of the company amounts to Rs 230.77.

The company is also set to issue 300% right shares after which the paid-up capital of the insurance company will reach Rs 1.09 arba.

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