National Insurance Company earns Rs 1.70 crore in Q1; Company yet to issue IPO

National Insurance Company Limited has published its first quarter report for the fiscal year 2075/76. The insurance company has reported a net profit of Rs 1.70 crore in the Q1 report which was a loss of Rs 68.01 crore in the corresponding quarter of the previous fiscal year.

As per the unaudited report for the first quarter published today, National Insurance has negative Rs 38.51 crore in the reserve. Likewise, the company’s insurance fund has increased to Rs 99.83 crore from Rs 83.23 crore in the first quarter of the previous year.

The net earnings from premium rose to Rs 26.75 crore in Q1 from Rs 25.17 crore in the corresponding quarter.

The company’s number of policy holders has decreased to 6,407 from 7,683 in the corresponding quarter of the previous year.