Everest Insurance Company reports massive rise in the net profits for the first quarter; other indicators reflect strong growth

Tue, Nov 12, 2019 1:33 PM on Financial Analysis, Latest,

Everest Insurance Company Limited (EIC) has published its first quarter report of FY 2076/77 with 338.10% rise in net profit. As per the Q1 report; the company has earned Rs.2.02 Crore at the end of FY 2076/77 compared to Rs.46.14 Lakhs in corresponding quarter.

It's paid up capital stands at Rs.1.09 Arba. The reserve fund of the company has increased to Rs.15.12 Crore from the corresponding years' Rs.11.07 Crore. The company’s insurance fund has increased to Rs.23.73 Crore from Rs.19.68 Crore in the corresponding quarter of the previous year.

The company’s earnings from premium (net) increased to Rs.11.92 Crore in Q1 from Rs.9.88 Crore in the corresponding quarter of last fiscal year.

The company has made claim payment (net) worth Rs.4.03 Crore whereas the same amount stood at Rs.1.98 Crore in the corresponding quarter.

The number of policies of EIC is 25,857 with 31.17% growth compared to the corresponding quarter.

Its annualized EPS stands at Rs.7.38 while quarter end PE ratio is at 30.63 times. The net worth per share of the company amounts to Rs.135.47.