Oriental Insurance net profit in Q2 shrinks by 57.92% to Rs 3.01 crore; accumulates net premium of Rs 36.39 crore

Thu, Feb 22, 2018 6:55 AM on Latest, Financial Analysis, Featured, Stock Market,
Oriental Insurance has posted shrinks in its net profit by 57.92% in the second quarter of the ongoing fiscal year 2074/75. Publishing the financial report today, it stated net profit of Rs 3.01 crore in Q2 of the FY 2074/75, down from Rs 7.13 crore in the corresponding quarter of the FY 2073/74. While its income from net premium has also decreased from Rs 38.43 crore to Rs 36.39 crore at the end of Q2 this year, its income from reinsurance commission has increased to Rs 1.53 crore. Its reserve fund is still negative at Rs 7.65 crore and insurance fund amounts to Rs 44.34 crore. It will be issuing IPO shares to the general public in upcoming days. Likewise, it has paid claim of Rs 25.62 crore. Q2 Report: