Premier Insurance Company’s net profit rises by 29.95%; EPS and Net worth at Rs 30.48 and Rs 301.76 respectively

Premier Insurance Company Limited (PIC) has stated rise in its net profit by 29.95% in the third quarter of the ongoing fiscal year 2074/75.

Publishing the financial report today, it has posted net profit of Rs 13.35 crore in Q3 of the FY 2074/75, up from Rs 10.30 crore in the corresponding quarter of the FY 2073/74.

While its income from net premium has increased from Rs 62.14 crore to Rs 57.33 crore at the end of Q3 this year, its income from reinsurance commission has also increased to Rs 12.48 crore.

Its current paid up capital stands at Rs 58.40 crore(after the adjustment of 13.52% bonus share) with Rs 70.45 crore in reserve and insurance fund amounts to Rs 43.42 crore.

To meet the capital requirement of Rs 1 arba as per Insurance Board till Ashad 2075, it should further hike its capital by Rs 41.59 crore (around 71.20%).

Its annualized earning per share stands at Rs 30.48, net worth per share at Rs 301.76 and P/E ratio at 45.23 times.