Nepal Insurance Company (NICL) has posted an outstanding rise in net profit by 71.20% in the second quarter of the FY 2075/76.
As per the unaudited report for the second quarter, the non life insurance company reported net profit of Rs 7.32 crore in Q2 of fiscal year 2075/76, up from Rs 4.27 crore of the corresponding fiscal year.
The company’s earnings from premium (net) increased to Rs 24.01 crore in Q2 from Rs 18.50 crore in the corresponding quarter. It’s paid up capital stands at Rs 61.73 crore.
The reserve fund of the company has also increased to Rs 27.36 crore from the corresponding year’s of Rs 16.67 crore. The company’s insurance fund has also increased to Rs 23.14 crore from Rs 15.71 crore in the corresponding quarter of the previous year.
The company has made claim payment (net) of Rs 9.82 crore whereas this amount was Rs 7.11 crore in corresponding quarter.
It’s annualized EPS stands at Rs 23.71 while its net worth per share of the company amounts to Rs 181.77. Its PE ratio stands at 23.11 times.
Nepal Insurance Company is in process to issue 65% right shares to its shareholders. For the right issuance process, book closure is already done. After the adjustment of the right shares, the paid-up capital of the insurance company will reach Rs.1.01 arba.
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Nepal Insurance Company announces book closure for 65% right; Shareholders holding shares till Magh 27 eligible to apply