Kathmandu. IGI Prudential 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 265.1 million till the third quarter. The company had posted a net profit of Rs 467.6 million in the same period of the previous fiscal year. Compared to the previous fiscal year, the company’s profit decreased by 43.31 percent in the review period.
As of the third quarter of the current fiscal year, the company has rs 1.81 billion in special reserves, Rs 92.2 million in disaster fund, Rs 125.2 million in retained earnings and Rs 554.2 million in other equities. As of Mid-July last year, the company had rs 1.67 billion in reserves, Rs 78.9 million in disaster fund, Rs 303.6 million in retained earnings and Rs 538 million in other equities.
As of the review period, the company’s insurance fund stood at Rs 4.61 billion. The insurance fund stood at Rs 4.55 billion as of Mid-June last year. The size of the company’s life insurance fund increased by 2.01 percent in the review period compared to the previous year.
Till the third quarter, the company has earned a total insurance premium of Rs 2.53 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 2.28 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 10.93 percent.
The company has earned a net insurance premium of Rs 929.1 million during the review period. In the same period of the previous fiscal year, the company had earned Rs 867.3 million in net insurance premium. Net insurance premium has increased by 7.12 percent compared to the previous year.
The company’s annualised earnings per share (EPS) declined to Rs 11.67 billion from Rs 3.02 billion. Last year, the EPS was Rs 20.58. The company has a net worth of Rs 185.30 per share with a PE ratio of 48.43 times.
