NLG & United Insurance earns Rs 12.97 crore & 4.89 crore respectively in Q3; UIC reports 110% rise in profit

NLG Insurance Company Limited (NLG) has posted net profit growth of 17.25 percent in the third quarter of the fiscal year 2073/74. As per the unaudited financial report published today, the non-life insurance company has stated that its net profit surged to Rs 12.97 crore in the third quarter of the fiscal year 2073/74 as compared to Rs 11.06 crore in the corresponding quarter of last year report. The company’s net earnings from premiums grew to Rs 59.08 crore in Q3 up from Rs 44.57 crore in the same quarter last year. The insurance company has paid up capital of Rs 51.23 crore in Q3. Its reserve fund has reached Rs 10.57 crore in Q3, up from Rs 10.29 in the previous fiscal year. Their policy holder has drastically increased to 1.47 lakh in this quarter from 1.19 lakh reported in the same period of last year. NLG's annualized earning per share (EPS) stands at Rs 33.77; P/E ratio is at 50.93 times and net worth per share at Rs 230.28. Similarly, United Insurance Company (Nepal) Limited (UIC) has posted massive 110.46 % rise in net profit for the third quarter of the fiscal year 2073/74. As per the unaudited report for the third quarter published today, the insurance company reported a net profit of Rs 4.89 crore in the Q3 of current fiscal year, up from Rs.2.32 crore in the corresponding period last year. The company’s net earnings from premiums increased to Rs. 28.49 crore from Rs. 23.49 crore. It has a paid up capital of Rs. 30.24 crore. The reserve fund of the company has increased to Rs. 24.93 crore in Q3 from Rs.14.11 crore in the same quarter previous fiscal year. Likewise, the company’s insurance fund has risen to Rs. 18.35 crore from Rs. 8.12 crore. The company’s number of policy holders has slightly increased to 47.05 thousand this quarter compared to 46.37 thousand reported in the same period last year. United Insurance’s earning per share (annualized) stands at Rs. 16.20, net worth per share is at Rs. 248.94 and P/E ratio at 101.54 times.