Neco Insurance Reported 16.48% Growth in Premium Collection In Q4; How Has The Overall Profitability Been?
Mon, Aug 16, 2021 6:21 AM on Latest, Company Analysis,
Neco Insurance Company Limited (NIL) has published its fourth-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 15.50% compared to the corresponding quarter of the previous year. The company’s net profit increased to Rs. 54.06 crores in this quarter from Rs. 46.80 crores in the corresponding quarter.
As per the unaudited report for the fourth quarter published today, NECO Insurance has a paid-up capital of Rs. 1.31 Arba with a reserve of Rs. 70.05 crores. Similarly, the company has Rs. 7.05 crores as a contingent fund. The company has an insurance fund of Rs. 1.11 arba.
The Net Premium rose by 28.53% to Rs. 1.63 arba in FY 2077/2078 from Rs. 1.27 arba in the corresponding quarter of the previous year. The company has earned Rs. 15.75 crores from income from investment, loans, and other headings.
The company’s Net claim increased by 25.77% to Rs. 62 crores in this quarter. The company’s number of policies stood at 302,712 till Q4 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 41.04 whereas Net worth per share stood at Rs. 243.34. The company traded at a P/E multiple of 32.85 times.
Major Highlights:
|
Particulars |
Neco Insurance Company Limited |
||
|---|---|---|---|
|
Q4, 2077/2078 |
Q4, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,317,432.00 |
1,317,432.00 |
- |
|
Reserve & Surplus |
700,583.00 |
419,958.00 |
66.82% |
|
Insurance Fund |
1,117,320.00 |
847,002.00 |
31.91% |
|
Contingent Fund |
70,551.00 |
80,858.00 |
- |
|
Gross Premium |
2,415,500.00 |
2,073,700.00 |
16.48% |
|
Net Premium |
1,632,856.00 |
1,270,392.00 |
28.53% |
|
Re-Insurance Income |
203,063.00 |
252,014.00 |
-19.42% |
|
Income from Investment, Loan and others |
157,516.00 |
128,745.00 |
22.35% |
|
Claim Payment (Net) |
620,098.00 |
493,033.00 |
25.77% |
|
Agent Commission |
58,691.00 |
47,786.00 |
22.82% |
|
Net Profit |
540,636.00 |
468,089.00 |
15.50% |
|
No. Of Policies |
302,712.00 |
248,206.00 |
- |
|
EPS (Rs.) |
41.04 |
35.53 |
- |
|
Net Worth Per Share |
243.34 |
202.31 |
- |
|
Price/EarningsRatio (times) |
32.85 |
- |
- |
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