Oriental Insurance publishes financial highlights for the third quarter; net profit stands at Rs.16.18 Crore

Fri, May 17, 2019 12:29 PM on Financial Analysis, Latest, Others,
Oriental I...

Oriental Insurance has posted an increase in its net profit by 33.85% in the third quarter of the ongoing fiscal year 2075/76.

Publishing the financial report today, it posted net profit of Rs 16.81 crore in Q3 of the FY 2075/76, up from Rs 12.56 crore in the corresponding quarter of the FY 2074/75. While its income from net premium has also increased from Rs 48.79 crore to Rs 56.20 crore at the end of Q3 this year.

Its income from reinsurance commission has increased to Rs 3.98 crore. Its reserve fund has increased from negative of Rs 2.87 crore to positive Rs 7.36 crore by the end of the third quarter.

Likewise, it has paid claim of Rs 46.89 crore. The number of in-force policies stands at 14,901 policies.