NLG Insurance earns Rs 2.07 crore, insurance fund rises to Rs 28.55 crore

ShareSansar, November 17:

NLG Insurance Company Limited (NLG) has posted a meager 9.74 percent rise in its net profit for the first quarter of the current fiscal year 2071/72.

Publishing the unaudited financial report for the first quarter today, the non life insurance company has stated that its net profit has increased to Rs 2.07 crore up from Rs 1.89 crore in the corresponding quarter of the last fiscal year 2070/71.

Similarly, there is a healthy increment in the insurance fund from Rs 19.59 crore to Rs 28.55 crore and the reserve and surplus have also increased to Rs 7.05 crore from Rs 10.42 crore as compared to corresponding quarter of the last fiscal year 2070/71.

The number of policies has declined to 29,668 from 34,118 policies during the last fiscal year.

The company’s annualized EPS is Rs 27.98; net worth per share is Rs. 235 and the P/E ratio stands 28.77 times.