Oriental Insurance reports decrease in profit by 14.77% in the fourth quarter; Net premium amounts to Rs 68.55 crore

Oriental Insurance has posted decrease in its net profit by 14.77% in the fourth quarter of the fiscal year 2074/75.

Publishing the financial report today, it stated net profit of Rs 15.56 crore in Q4 of the FY 2074/75, down from Rs 18.26 crore in the corresponding quarter of the FY 2073/74.

While its income from net premium has increased from Rs 63.72 crore to Rs 68.55 crore at the end of Q4 in the fiscal year 2074/75, its income from reinsurance commission has increased to Rs 3.43 crore.

Its reserve fund is still negative at Rs 1.37 crore and insurance fund amounts to Rs 50.62 crore.

It will be issuing IPO shares to the general public in upcoming days.

Likewise, it has paid claim of Rs 67.10 crore in the fourth quarter of the current fiscal year.