Everest Insurance net profit rises to Rs 2.07 crore in Q2; net worth per share at Rs 412

Everest Insurance Company Limited (EIC) has posted a 126.83% increase in net profit in the second quarter of the ongoing fiscal year 2073/74. As per the quarterly report published by the non-life insurance company, its net profit has increased to Rs 2.07 crore, up from Rs 91.27 lakh in the corresponding quarter last year. Its net earnings from premium has also increased to Rs 5.25 crore from Rs 3.61 crore last year. In this period, it has been able to increase its reinsurance commission by 124% to Rs 1.51 crore. At the end of Q2 this year, its number of insurance policies has reached 7,762. However, EIC has pending claims worth Rs 25.91 crore. As of Q2, its paid up capital stands at Rs 10.12 crore with a reserve of Rs 14.20 crore and insurance fund of Rs 9.92 crore. Its annualized EPS now stands at Rs 40.89, net worth per share at Rs 412.51 and P/E ratio at 38 times. Everest Insurance Company Limited has not conducted AGMs for the fiscal years 2068/69, 2069/70, 2070/71 and 2071/72. Dividends for the above mentioned fiscal years is pending.