Prudential Insurance Company continues to report fall in the net profits; net premium income falls to Rs.23.66 Crore

Prudential Insurance Company Limited (PICL) has stated fall in its net profit by 6.48% in the second quarter of the ongoing fiscal year 2076/77.

The non-life insurance company stated that it earned a net profit of Rs.6.39 Crore in Q2 of the FY 2076/77, down from Rs.6.83 Crore in the corresponding quarter of the FY 2075/76; continuing the losing streak.

Its net income from premium (net) has decreased from Rs.25.01 Crore to Rs.23.66 Crore at the end of Q2 this year. Its current paid up capital stands at Rs.64.15 Crore. It has a reserve fund of Rs.21.70 Crore and the insurance fund amounts to Rs.49.94 Crore.

Its earning per share stands at Rs.19.94, net worth per share at Rs.218.70 and P/E ratio at 27.48 times. The company is soon going to issue 60% right share of worth Rs 38.49 crore, upon which the paid up capital of the company will increase to Rs 102.64 crore.