Kathmandu. United Ajod 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 profit of Rs 116.1 million till the third quarter. The company had posted a net profit of Rs 274.2 million in the same period of the previous fiscal year. The company’s profit declined by 57.65 percent in the review period compared to the previous fiscal year.
As of the third quarter of the current fiscal year, the company has rs 990 million in special reserves, Rs 43.6 million in disaster fund, Rs 165.8 million in retained earnings and Rs 681.8 million in other equities. As of Mid-July last year, the company had rs 932.1 million in special reserves, Rs 40.6 million in disaster fund, Rs 111.8 million in retained earnings and Rs 696 million in other equities.
As of the review period, the company’s insurance fund stood at Rs 2.42 billion. The insurance fund stood at Rs 2.28 billion as of Mid-July last year. The size of the company’s insurance fund increased by 6.04 percent in the review period compared to the previous year.
Till the third quarter, the company has earned a total insurance premium of Rs 1.79 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 1.84 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue decreased by 2.66 percent.
The company has earned a net insurance premium of Rs 724 million during the review period. In the same period of the previous fiscal year, the company had earned a net insurance premium of Rs 784.4 million. Net insurance premium has decreased by 8.16 percent compared to the previous year.
The company’s annualised earnings per share (EPS) has come down to Rs 7.37 from Rs 2.10 billion. Last year, the EPS was Rs 17.41. The company has a net worth of Rs 189.59 per share with a PE ratio of 85.51 times.
