Nepal Insurance Company posts net profit of Rs.4.91 Crore till Q1 of FY 76/77; insurance fund crosses Rs.30 Crore

Nepal Insurance Company (NICL) has posted a rise in net profit by 9.72% in the first quarter of the FY 2076/77.

As per the unaudited report for the first quarter, the non-life insurance company reported net profit of Rs.4.91 Crore, up from Rs.4.47 Crore of the corresponding fiscal year.

The company’s earnings from premium (net) increased to Rs.15.85 Crore in Q1 from Rs.12.58 Crore in the corresponding quarter. It’s paid up capital stands at Rs.1.01 Arba.

The reserve fund of the company has also increased to Rs.39.57 Crore from the corresponding year’s Rs.26.51 Crore. The company’s insurance fund has also increased to Rs.31.18 Crore from Rs.20.86 Crore in the corresponding quarter of the previous year.

Its EPS stands at Rs.4.82 while its net worth per share amounts to Rs.169.44. Its PE ratio stands at 13.85 times.