Everest Insurance earning dwindled by 30.48% to Rs 10.51 lakh in Q1; EPS mere Rs 1.04

Everest Insurance Company Limited (EIC) has posted net profit dwindle by 30.48% for the first quarter of the current fiscal year 2073/74. As per the unaudited report for the first quarter published today, the non-life insurance company reported a net profit of Rs. 10.51 lakh in the Q1 of current fiscal year, down from Rs.15.12 lakh in the corresponding period last year. The company’s earnings from premium rose to Rs. 2.96 crore in Q1 from Rs 1.90 crore in the corresponding quarter. EIC has a paid up capital of Rs.10.12 crore. The reserve fund of the company has decreased to Rs 12.13 crore in Q1 from Rs. 14.41 crore in the same quarter previous fiscal year. Meanwhile, the company’s insurance fund has risen to Rs.9.92 crore from Rs.4.88 crore. The company’s number of policy holders has increased to 3,902 this quarter compared to 2,694 reported in the same period last year. Annualized Earning per Share (EPS) of Everest Insurance stands at Rs 1.04, net worth per share is at Rs.318.09 and P/E ratio at 2156.36 times.