Nepal Insurance profit dwindles by 15.87 % in Q1

Nepal Insurance Company Limited (NICL) has reported a net profit of Rs 1.08 crore in the first quarter of the fiscal year 2072/73. The net profit decreased by 15.85% in Q1 compared to the previous corresponding quarter fiscal year. According to the unaudited financial report for the first quarter published today, its net profit dropped to Rs 1.08 crore in Q1 as compared to Rs 1.28crore in the corresponding quarter of the last fiscal year 2070/71. NICL’s paid up capital remains at Rs 26.38 crore. The reserve fund of the company has reached Rs 19.41 crore in Q1, up from Rs15.42crore in the previous fiscal year. Likewise, Insurance fund has risen to 8.55 crore from Rs 6.56 crore. Nepal Insurance policy holder has increased to 17,215 by the end of this quarter from 14,129 reported in the same period of last year. NICL Earning per Share (EPS) stands at Rs 4.11 and net worth per share at Rs 206.12.