Kathmandu. Oriental Insurance has released the revised financial statements for the third quarter of the current fiscal year (July-April).
According to the financial statement, the company has earned a total insurance premium of Rs 1.62 billion till the third quarter. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 1.35 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 20.36 percent.
The company has earned a net insurance premium of Rs 831.9 million during the review period. In the same period of the previous fiscal year, the company had earned Rs 869.7 million in net insurance premium. Net insurance premium has decreased by 4.35 percent compared to the previous year.
In the third quarter, the company had posted a loss of Rs 138.3 million. The company had posted a net profit of Rs 461.7 million in the same period of the previous fiscal year.
As of the third quarter of the current fiscal year, the company’s special reserves stood at Rs 1.66 billion, disaster fund at Rs 63.3 million and other equities at Rs 849.8 million. As of Mid-July last year, rs 1.66 billion was deposited in special reserves, Rs 63.3 million in disaster fund, Rs 55.7 million in retained earnings and Rs 775.8 million in other equities.
As of the review period, the company’s insurance fund stood at Rs 1.65 billion. In the previous year, the insurance fund was negative by Rs 31.8 million.
