Neco Insurance publishes an outstanding Q1 report with 65.21% growth in Net Profit; EPS stands at Rs 37.79
Thu, Nov 19, 2020 7:33 AM on Company Analysis, Latest,
Neco Insurance Company Limited (NIL) has published its first-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by a massive 65.21% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 12.45 crores in this quarter from Rs. 7.53 crores in the corresponding quarter.
As per the unaudited report for the first quarter published today, NECO Insurance has a paid-up capital of Rs. 1.31 Arba with a reserve of Rs. 58.04 crores. Similarly, the company has Rs. 8.55 crores as a contingent fund. The company has an insurance fund of Rs. 89.39 crores.
The Net Premium rose by 30.63% to Rs. 43.28 crores in FY 2077/2078 from Rs. 33.13 crores in the corresponding quarter of the previous year. The company has earned Rs. 2.29 crores from income from investment, loans, and other headings.
The company’s Net claim increased by 21.63% to Rs. 12.29 crores in this quarter. The company’s number of policies stood at 78,042 till Q1 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 37.79 whereas Net worth per share stood at Rs. 218.40. The company traded at a P/B multiple of 3.62 times.
Major Highlights:
|
Particulars |
Neco Insurance Company Limited |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,317,432.00 |
1,176,278.00 |
- |
|
Reserve & Surplus |
580,408.00 |
497,617.00 |
16.64% |
|
Insurance Fund |
893,923.00 |
645,095.00 |
38.57% |
|
Contingent Fund |
85,551.00 |
60,668.00 |
41.02% |
|
Gross Premium |
681,700.00 |
560,300.00 |
21.67% |
|
Net Premium |
432,861.00 |
331,352.00 |
30.63% |
|
Re-Insurance Commission Income |
55,507.00 |
62,047 |
-10.54% |
|
Income from Investment, Loan and others |
22,942.00 |
21,324.00 |
7.59% |
|
Claim Payment (Net) |
122,922.00 |
101,066.00 |
21.63% |
|
Agent Commission |
8,774.00 |
9,614.00 |
-8.74% |
|
Gross Profit |
124,875.00 |
80,771.00 |
- |
|
Net Profit |
124,458.00 |
75,332.00 |
65.21% |
|
No. of Policies |
78,042 |
68,455 |
14.00% |
|
Annualized EPS (In Rs.) |
37.79 |
25.62 |
47.51% |
|
Net Worth per share (In Rs.) |
218.40 |
142.30 |
53.48% |
|
Price/Book ratio |
3.62 |
- |
- |
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