Premier Insurance earns Rs 90.39 lakh; Everest Insurance profits decline

ShareSansar, November 18:

Premier Insurance Company Limited (PIC) has posted a meager 12.34 percent rise in its net profit for the first quarter of the current fiscal year 2071/72.

Publishing the unaudited financial report for the first quarter today, the insurance company has stated that its net profit has increased to Rs 90.39 lakh up from Rs 80.46 lakh in the corresponding quarter of the last fiscal year 2070/71.

Similarly there is an impressive increment in the insurance fund from Rs 6.22 crore to Rs 8.47 crore and the reserve and surplus also increased to Rs 7.61 crore from Rs 5.35 crore as compared to corresponding quarter of the last fiscal year 2070/71.

The number of policies has increased to 8821 up from 6292 during the last fiscal year.

The company’s annualized EPS is Rs 4.55; net worth per share is Rs 181.04 and the P/E ratio is 181.53 times.

Similarly, Everest Insurance Company Limited (EIC) net profit decline to Rs 13.61 lakh from Rs 1.15 crore last fiscal year.

The number of policies has increased to 995 up from 45 last year, still it is considered to be very low in number. This shows the company has very less business and its cost is increasing due to the increased number of claims, which results in decline in the net profit of the company.

The company annualized EPS is Rs 5.40, net worth per share is Rs 252.06 and P/E ratio is 174.21 times.

For Financial Report (PIC): CLICK HERE

For Financial Report (EIC): CLICK HERE