General Insurance Company earns Rs 5.06 crore in Q4; Company to issue IPO soon to general public
Wed, Aug 12, 2020 12:24 PM on Company Analysis, Latest,
General Insurance Company Nepal Limited (GICNL) has published its fourth-quarter report of FY 2076/2077 with an increase in Net Profit by 39.78%. The company’s profit has increased from Rs.3.62 crores to Rs.5.06 crores in this quarter.
As per the unaudited report for the fourth quarter report published today, GICNL has a paid-up capital of Rs. 70 crores with a reserve and surplus of Rs. 4.66 crores.
The company has Rs. 5.10 crores in insurance fund and Rs. 52 lakhs in contingent fund till the fourth quarter of FY 2076/2077.
The net earnings from the premium rose by 27.34% to Rs. 20.96 crores till Q4, 2076/2077 from Rs. 16.46 crores in the corresponding quarter of the last fiscal year. The company has earned Rs. 9.34 crore from reinsurance income and investments. However, the company's income from the investment has decreased by 47.67% in Q4.
The company’s net claim payment rose by a massive 240.27% to Rs. 7.69 crores in Q4 of FY 2076/2077. Till this quarter the company has issued 57,803 policies.
GICNL’s EPS stands at Rs. 7.23 whereas Net worth per share stands at Rs. 114.68 in Q4, 2076/2077.
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Major Highlights
|
Particulars (In Lakhs) |
General insurance company Nepal limited |
||
|---|---|---|---|
|
Q4, 2076/2077 |
Q4,2075/2076 |
Difference |
|
|
Paid-up Capital |
7,000 |
7,000 |
- |
|
Reserves & Surplus |
466 |
257 |
81.32% |
|
Insurance Fund |
510 |
286 |
78.32% |
|
Contingent Fund |
52 |
29 |
79.31% |
|
Net Premium |
2,096 |
1,646 |
27.34% |
|
Re-insurance income |
754 |
474 |
59.07% |
|
Income from investment, loan, and others |
180 |
344 |
-47.67% |
|
Claim Payment (Net) |
769 |
226 |
240.27% |
|
Agent Commission |
125 |
63 |
98.41% |
|
Gross Profit |
410 |
243 |
68.72% |
|
Net Profit |
506 |
362 |
39.78% |
|
No. of Policies |
57,803 |
31,217 |
85.17% |
|
EPS (Rs.) |
7.23 |
5.17 |
39.85% |
|
Net worth per share (Rs.) |
114.68 |
107.76 |
6.42% |
(*The figures provided above are expressed in lakhs)
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