IME General Insurance state decent performance in the third quarter; Net profit stands at Rs 8.23 crore

IME General Insurance (IGI) has reported decent rise in its net profit by 32.73 % in the third quarter of the ongoing fiscal year 2074/75.

Publishing the financial report today, it stated net profit of Rs 8.23 crore in Q3 of the FY 2074/75, up from Rs 6.20 crore in the corresponding quarter of the FY 2073/74.

While its income from net premium has also increased from Rs 23.72 crore to Rs 28.07 crore at the end of Q3 this year, its income from reinsurance commission has increased to Rs 7.76 crore.

Its paid up capital stands at Rs 54 crore and after the issuance of 80 percent right share its capital will reach Rs 97.20 crore. Thus to meet the capital requirement of Rs 1 arba, it should hike its capital by Rs 2.8 crore (around 2.88%). It has Rs 13.47 crore as insurance fund.

Its annualized earning per share stands at Rs 20.34, net worth per share at Rs 134.07 and P/E ratio at 42.04 times.