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

-

-