United Insurance profit decline by 17.91% in Q3; earns Rs 7.55 crore and company issuing 240% right shares soon

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Fri, May 10, 2019 6:37 AM on Dividend, Bonus & Rights, Financial Analysis, Latest, Stock Market,
United Ins...

United Insurance Company (Nepal) Limited net profit decline by 17.91% in the third quarter of the ongoing fiscal year 2075/76.

Publishing the financial report today, the non-life insurance company stated that it earned a net profit of Rs 7.55 crore till Q3 of the FY 2075/76, down from Rs 9.19 crore in the corresponding quarter of the FY 2074/75.

Along with its net profit, its net income from premium has also decreased by 3.95% from Rs 24.80 crore to Rs 23.82 crore at the end of Q3 this year. Its income from reinsurance commission has decreased to Rs 2.93 crore.

It has made claim payment worth Rs 14.53 crore to 1,313 policies and it has provisioned Rs 17.25 crore for pending claims.

Its current paid up capital stands at Rs 30.24 crore. It has a reserve fund of Rs 8.18 crore and the insurance fund amounts to Rs 34.08 crore.

240% right shares of United Insurance added to SEBON pipeline; Paid-up capital to reach Rs 1.02 arba after the issuance

Its annualized earning per share stands at Rs 33.2 and P/E ratio at 23.37 times.