Kathmandu. Neco Insurance Company has published its financial results for the first quarter of the fiscal year 2082-83. According to the company’s financial report, the profit of the company is negative.
The company has paid-up capital of Rs 2.69 billion and has special reserve of Rs 2.30 billion as of the review period. There is a total of Rs 16.58 crore in the Disaster Fund. The company has Rs 35.69 crore in equity.
During the review period, the company earned a total insurance premium of Rs 52.62 crores. The company had posted a net profit of Rs 50.48 crore in the same quarter last year. The company’s total premium increased by 4.23 percent compared to the previous year.
Similarly, the company has collected a net premium of Rs 29.54 crore during the period. The company had posted a net premium of Rs 28.55 crore in the same quarter last year. The company’s net premium has increased by 3.46 percent compared to the previous year.
During the period, the company posted a net loss of Rs 8.31 crore. The company had posted a net profit of Rs 7.4 crore in the same quarter last year.
During this period, the company earned Rs 12.35 (negative) per share. The net worth per share is Rs 227.15.
