Oriental Insurance reports massive rise in net profit; Net profit reaches Rs 1.66 crore in Q1

Oriental Insurance has posted an increment in its net profit by 81% in the first quarter of the fiscal year 2075/76.

Publishing the financial report today, it stated net profit of Rs 1.66 crore in Q1 of the FY 2075/76, from Rs 91.80 lakh in the corresponding quarter of the FY 2074/75.

While its income from net premium has decreased from Rs 26.31 crore to Rs 23.89 crore at the end of Q1 in the fiscal year 2075/76, its income from reinsurance commission has increased to Rs 1.53 crore.

Its reserve fund is still negative at Rs 1.21 crore and insurance fund amounts to Rs 51.04 crore.

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