Nepal Insurance profit rises by 2.64% in Q3; Coming days are challenging due to COVID-19 and its impact on overall economy
Mon, May 4, 2020 7:53 AM on Financial Analysis, Latest, Stock Market,
Nepal Insurance Company Limited (NICL) net profit has increased by 2.64% in the third quarter of the fiscal year 2076/77. The company net profit has increased from Rs 13.06 Crore in the corresponding quarter to Rs 13.40 Crore in the Q3 of the FY 2076/77.
The net earnings from premium stood at Rs 43.01 Crore till Q3 of FY 2076/77. The company has earned Rs 5.28 Crore from investment, loans, and others while its reinsurance income stands at Rs 12.26 Crore.
The company has stated that the coming days are very much challenging due to COVID-19 and its impact on whole economy.
Nepal Insurance has a paid-up capital of Rs 1.09 Arba with a reserve and surplus of Rs 34.58 Crore. It has Rs 36.47 crore in insurance fund.
The annualized EPS and net worth per share stand at Rs 16.32 and Rs 164.86. The quarter-end P/E ratio of the company is at 21.26 times.
Major Highlights:
Particulars (In Rs '000) |
Nepal Insurance |
||
---|---|---|---|
Q3 2076/77 |
Q3 2075/76 |
Difference |
|
Paid Up Capital |
1,095,537 |
617,639 |
77.37% |
Reserve and Surplus |
345,845 |
365,055 |
-5.26% |
Insurance Fund |
364,710 |
260,052 |
40.25% |
Gross Premium |
858,980 |
850,790 |
0.96% |
Net Premium |
430,128 |
386,724 |
11.22% |
Re-Insurance Commission Income |
122,642 |
117,202 |
4.64% |
Income from Investment, Loan and others |
52,851 |
61,719 |
-14.37% |
Claim Payment (Net) |
98,220 |
166,942 |
-41.17% |
Agent Commission |
34,916 |
34,316 |
1.75% |
Gross Profit |
130,162 |
145,339 |
-10.44% |
Net Profit |
134,084 |
130,636 |
2.64% |
No of Policies |
116,944 |
114,519 |
2.12% |
EPS (In Rs.) |
16.32 |
28.20 |
-42.13% |
Net Worth per Share (In Rs.) |
164.86 |
201.21 |
-18.07% |
Qtr End PE Ratio |
21.26 |
- |
- |
Qtr End Market Price |
347 |
- |
- |