General Insurance reports net profit of Rs 2.31 crore for Q3 of FY 2075/76; Compay showing steady growth for first year of operation

Tue, May 14, 2019 1:46 PM on Financial Analysis, Latest, Stock Market,

General Insurance Company Nepal Limited (GICNL) has published the unaudited Q3 report for the FY 2075/76.

According to the report, the paid-up capital of the company stands at Rs. 70 Crore by the end of the third quarter. The company has reserves worth Rs. 1.98 Crore, which was Rs 1.5 crore and Rs 1.17 crore for second and first quarter of FY 2075/76 respectively.

The insurance fund stands at Rs. 2.20 Crore. The long term investment of the company stands Rs. 5.25 crore in the current quarter. The company earned Rs. 9.7 Crore net from the collection of premium.

Similarly, the Net profits of the company stands at Rs. 2.31 Crore in third quarter up from Rs 1.2 crore in Q2.

General Insurance has a total of 19 thaousand 768 policies currently inforce. The company posted an EPS of Rs. 3.3 and net worth per share of Rs. 105.98.

Highlights

Particulars (In Rs '000) General Insurance Company Limited
Q3 2075/76 Q2 2075/76 Q1 2075/76
Paid Up Capital 700000 700,000.00 700,000.00
Reserve & Surplus 19823.53 15,242.79 11,780.27
Insurance Fund 22026.14 16,936.43 13,089.19
Long Term Investment 52500 52,500.00 45,000.00
Earnings from Premium 97360.8 51,559.48 14,795.40
Net Profit 23110.78 12,931.35 5,236.87
Total Inforce Policy count (No.) 19768 8,980 3,082
EPS (Rs.) 3.3 3.69 3
Net Worth per Share (Rs.) 105.98 102.18 103.74