Oriental Insurance posts 241.06% rise in net profit reaching Rs 29 crore; Reserves at negative of Rs 15.41 crore

Oriental Insurance has posted an increase in its net profit by 241.06% in the second quarter of the ongoing fiscal year 2075/76.

Publishing the financial report today, it posted net profit of Rs 29. crore in Q2 of the FY 2076/77, up from Rs 8.50 crore in the corresponding quarter of the FY 2074/75. While its income from net premium has also increased from Rs 38.09 crore to Rs 46.71 crore at the end of Q2 this year.

Its income from the reinsurance commission has increased to Rs 3.44 crore. Its reserve fund has decreased from of Rs 3.20 crore to negative of Rs 15.41 crore by the end of the second quarter.

Likewise, it has paid a claim of Rs 17.29 crore. The number of in-force policies stands at 11,109 policies.

Second Quarter Report