Nepal Insurance profit rises by 26.88% to Rs 17.01 crore in Q3; EPS and PE stands at Rs 19.72 and 42.55 times
Tue, May 11, 2021 5:49 AM on Financial Analysis, Latest,
Nepal Insurance Company Limited (NICL) has published its third-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 26.88% compared to the corresponding quarter of the previous year. The company’s net profit increased to Rs. 17.01 crores in this quarter from Rs. 13.40 crores in the corresponding quarter.
As per the unaudited report for the third quarter published today, Nepal Insurance has a paid-up capital of Rs. 1.15 Arba with a reserve of Rs. 40.17 crores. The company has an insurance fund of Rs. 50.71 crore.
The Net Premium rose by 35.28% to Rs. 58.18 crore in FY 2077/2078 from Rs. 43.01 crores in the corresponding quarter of the previous year. The company has earned Rs. 6.62 crores from income from investment, loans, and other headings.
The company’s Net claim increased by 80.08% to Rs. 17.68 crores in this quarter. The company’s number of policies stood at 1,11,766 till Q3 of 2077/2078.
Its annualized earnings per share (EPS) stood at Rs. 19.72 whereas Net worth per share stood at Rs. 179.01. The company traded at a P/E multiple of 42.55 times.
Major Highlights:
| Particulars (In Rs '000") | Nepal Insurance | ||
|---|---|---|---|
| Q3 2077/78 | Q3 2076/77 | Difference | |
| Paid Up Capital | 1,150,313 | 1,095,537 | 5.00% |
| Reserve and Surplus | 401,735 | 345,845 | 16.16% |
| Insurance Fund | 507,160 | 364,710 | 39.06% |
| Contingent Fund | - | - | 0.00% |
| Gross Premium | 968,432 | 858,980 | 12.74% |
| Net Premium | 581,857 | 430,128 | 35.28% |
| Re-Insurance Commission Income | 115,024 | 122,642 | -6.21% |
| Income from Investment, Loan and others | 66,272 | 52,851 | 25.39% |
| Claim Payment (Net) | 176,876 | 98,220 | 80.08% |
| Agent Commission | 18,378 | 16,990 | 8.17% |
| Gross Profit | 183,380 | 130,162 | 40.89% |
| Net Profit | 170,122 | 134,084 | 26.88% |
| No of Policies | 111,766 | 116,944 | -4.43% |
| EPS (In Rs.) | 19.72 | 16.32 | 20.84% |
| Net Worth per Share (In Rs.) | 179.01 | 164.86 | 8.59% |
| Qtr End PE Ratio | 42.55 | - | - |
| Qtr End Market Price | 839.00 | - | - |
