United Insurance reports 14.66% hike in net profit for Q1 2076/77; Net profit at Rs 1.28 crore
Fri, Nov 15, 2019 12:49 PM on Financial Analysis, Latest, Stock Market,
United Insurance Company (Nepal) Limited (UIC) net profit increased by 14.66% in the first quarter of the ongoing fiscal year 2076/77.
Publishing the financial report today, the non-life insurance company stated that it earned a net profit of Rs 1.28 crore till Q1 of the FY 2076/77, up from Rs 1.11 crore in the corresponding quarter of the FY 2075/76.
Along with its net profit, its net income from premium has also increased from Rs 7.81 crore to Rs 8.49 crore at the end of Q1 this year. Its income from the reinsurance commission has increased to Rs 2.33 crore.
It has made claim payment worth Rs 2.82 crore.
Its current paid-up capital stands at Rs 30.24 crore. It has a reserve fund of Rs 6.69 crore and the insurance fund amounts to Rs 33.25 crore. The company has recently issued 240% right share worth Rs 72.57 crore. The company is undergoing auction for unsubscribed right shares. Post right share the total paid-up capital will increase to Rs 102.81 crore.
Its annualized earning per share stands at Rs 16.96 and the P/E ratio at 15.62 times. The net worth per share amounts to Rs.234.41.
