Nepal Insurance Company (NICL) Reports Growth in Net Profit by 59.66% in Q3; EPS Stands at Rs 25.56
Fri, May 12, 2023 4:06 PM on Latest,
Nepal Insurance Company Limited (NICL) has published its report for the third quarter of the fiscal year 2079/2080 with an increase in Net Profit by 59.66%. The company accumulated net profit of Rs. 28.65 crores compared to Rs. 17.94 crores that the company had profited in the corresponding quarter of the previous fiscal year.
The insurance company has also increased its Insurance Fund by 35.85 % to reach to Rs. 89.43 crores in Q3 of FY 2079/80. Similarly, a spike of 27.09%, amounting to Rs. 7.53 crores have been witnessed in income of the company made from investment, loans and other sources.
The net claim payment of the company too has increased by 24.54 % in the third quarter of the current fiscal year. There has been a negligible decrease in agent commission.
The company was able to sell 138,335 insurance policies until the end of the third quarter.
NICL has managed to increase its paid-up capital by 20.32 % and as per the report of the third quarter published today, the paid-up capital amounts to Rs. 1.49 Arba. Moreover, it has Rs 43.62 crores as reserve and surplus.
Meanwhile, the Earning per Share (EPS) of the company has decreased to Rs. 25.56 and maintains a Net worth per Share of Rs. 189.02.
Lastly, the Price to Earnings (PE) ratio of the company stands at 20.24 times. Additionally, the company was traded Rs. 517.20 at the end of the third quarter.
Major Financial Highlights:
| Particulars (In Rs '000) | Nepal Insurance Company | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 1,494,765.00 | 1,242,339.00 | 20.32% |
| Reserve and Surplus | 436,261.00 | 431,322.00 | 1.15% |
| Insurance Fund | 894,306.00 | 658,308.00 | 35.85% |
| Net Premium | 601,693.00 | 601,339.00 | 0.06% |
| Re-Insurance Income | 140,886.00 | 146,372.00 | -3.75% |
| Income from Investment, Loan and others | 75,364.00 | 59,302.00 | 27.09% |
| Claim Payment (Net) | 189,881.00 | 152,470.00 | 24.54% |
| Provision for Losses | 41,351.00 | 19,253.00 | 114.78% |
| Agent Commission | 15,987.00 | 16,082.00 | -0.59% |
| Net Profit | 286,529.00 | 179,462.00 | 59.66% |
| No of Policies (Nos) | 138,335.00 | 140,726.00 | -1.70% |
| EPS (In Rs.) | 25.56 | 28.89 | -11.53% |
| Net Worth per Share (In Rs.) | 189.02 | 187.71 | 0.70% |
| PE Ratio | 20.24 | - | - |
| Qtr End Price | 517.20 | ||
