Nepal Insurance earns Rs 2.76 crore in Q3; Reserve decline to Rs 8.90 crore, EPS stand at Rs 9.60

Nepal Insurance Company Limited (NICL) has earned net profit of Rs 2.76 crore in the third quarter (Q3) of the current fiscal year 2072/73. As per the unaudited report for the third quarter published today, the insurance company reported a net profit of Rs 2.76 crore in Q3 of current fiscal year, down from Rs 4.55 crore in the corresponding period last year. The company’s earnings from premiums slightly dropped to Rs.31.38 crore in Q3 from Rs 32.90 crore in the corresponding quarter. NICL has a paid up capital of Rs.28.76 crore. The reserve fund of the company has significantly decreased to Rs 8.90 crore in Q3 from Rs. 18.58 crore in the same quarter previous fiscal year. Also, the company’s insurance fund has dropped to Rs.6.70 crore from Rs.7.86 crore. The company’s number of policy holders has risen to 41, 003 in this quarter compared to 43, 418 reported in the same period last year. NICL’s earning per share (EPS) stands at Rs 9.60, net worth per share is at Rs.154.27and P/E ratio at 196.69 times.