Nepal Breaking NewsBusinessNeco Insurance reports a net profit of Rs 35.09 crores (Q3 Report)

Neco Insurance reports a net profit of Rs 35.09 crores (Q3 Report)

Must Read
spot_img

Until the third quarter of fiscal year 2077/77, Company Limited (NIL) announced a 45 percent increase in net profit. In the first nine months of the current fiscal year, the insurer made a net profit of Rs. 35.09 crores. Neco Insurance made a profit of Rs. 24.10 crores until the third quarter of the previous fiscal year.

Neco insurance received a total premium of Rs. 197.24 crores at the end of Chaitra end 2077 BS, up more than 21% from the previous year. The total premium was Rs. 136.04 crores. The net claim increased to Rs. 44.04 crores during this period.

The annualized Per Share () and net- per share, according to the unaudited estimate, are Rs 35.52 and Rs 235.59, respectively.

The following table summarizes Neco Insurance’s unaudited third-quarter report:

Neco Insurance (NIL): Third Quarterly Report Summary, FY 2077/78

Financial Indicators Q3, F.Y. 2077/78 Q3, F.Y. 2076/77 Percent Change
Paid-up (Rs. ‘crores’) 131.74 131.74 0.00
& Surplus (Rs. ‘crores’) 68.23 43.1 58.31
Insurance Fund  (Rs. ‘crores’) 100.71 72.79 38.36
Total Investments  (Rs. ‘crores’) 376.04 320.95 17.16
Total Premium (Rs. ‘crores’) 197.24 162.23 21.58
Net Premium  (Rs. ‘crores’) 136.04 92.88 4
Net Claim (Rs. ‘crores’) 44.04 38.21 15.26
Total Outstanding Claim (Rs. ‘crores’) 109.77 58.94 86.24
Net Profit  (Rs. ‘crores’) 35.09 24.1 45.60
Management Expenses (Rs. ‘crores’) 26.51 24.21 9.50
Number Of Policies 224,394 201,534 11.34
Earnings Per Share (Rs.) 35.52
Networth Per Share (Rs.) 235.59
Market Price Per Share (Rs.) [Chaitra end, 2077 BS] 1665
P/E Ratio 46.88

Please keep in mind that

The above figures are taken from the respective company’s unaudited quarterly report. When making investment decisions, investors should consider a variety of factors in addition to this article. After the final audit, the figures can change.

The share price and P/E ratio are calculated data from the end of Chaitra in 2077. The figures can change at any time.

You May Also Like:

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

In Nepal, the third wave of Covid-19 has begun. Stay Safe!

The third wave of Covid-19 has begun in Nepal, according to health experts and officials from the Ministry of...

More Articles Like This