National Insurance profit declined to Rs 10.78 crore in Q4

National Insurance Company Limited has reported 88.98 percent decline in net profit in the fourth quarter of the fiscal year 2073/74. As per the notice published by the company today, the non-life insurance company has stated decrease in the net profit from Rs 97.95 crore in the corresponding quarter of FY 2072/73 as compared to Rs 10.78 crore in the fourth quarter of FY 2073/74. The company’s net earnings from premiums grew to Rs 68.56 crore in Q4 from Rs 54.04 crore in the same quarter last year. The insurance company has not mentioned paid up capital in its report. National Insurance is not a listed company as it has not yet floated Initial Public Offering (IPO) for the public. Its reserve fund is in negative of Rs 55.50 crore in Q4, from Rs 60.24 in the previous fiscal year. Their policy holder has decreased to 29,333 thousand by the end of this quarter from 26,929 thousand reported in the same period of last year.