Everest Insurance reports meagre rise in net profit by 2.88% reaching Rs 46.14 lakh; Prabhu Insurance reports 28.15% hike in net profit reaching Rs 3.04 crore

Fri, Nov 16, 2018 5:11 PM on Financial Analysis, Latest, Stock Market,

Everest Insurance Company (EIC) has reported a decent rise net profit by 2.88% in the first quarter of the FY 2075/76.

As per the unaudited report for the first quarter, the insurance company reported net profit of Rs 46.14 lakh in Q1 of fiscal year 2075/76, from Rs 44.85 lakh of the corresponding quarter in last fiscal year. It's paid up capital stands at Rs 13.36 crore.

The company’s earnings from premium increased to Rs 9.89 crore in Q1 from Rs 2.50 crore in the corresponding quarter of last fiscal year.

However, the reserve fund of the company has decreased to Rs 11.08 crore from the corresponding year’s Rs 11.94 crore. The company’s insurance fund has increased to Rs 19.68 crore from Rs 15.23 crore in the corresponding quarter of the previous year.

Its annualized EPS stands at Rs 13.8 while its PE ratio is at 85.14 times. The net worth per share of the company amounts to Rs 386.18.

Prabhu Insurance Company Limited (PRIN) has stated growth in its net profit by 28.15% in the first quarter of the ongoing fiscal year 2075/76.

Publishing the financial report today, it has stated net profit of Rs 3.05 crore in Q1 of the FY 2075/76, up from Rs 2.38 crore in the corresponding quarter of the FY 2074/75.

Along with its net profit, its net income from premium has increased from Rs 15.14 crore to Rs 17.42 crore at the end of Q1 this year. Its income from reinsurance commission has increased to Rs 4.37 crore.

Its current paid up capital stands at Rs 1.005 arba. It has reserve fund of Rs 19.01 crore and the insurance fund amounts to Rs 45.82 crore.

Its annualized earning per share stands at Rs 12, net worth per share at Rs 164 and P/E ratio at  41.16 times.