Kathmandu. Neco Insurance Company has released the revised financial statements for the fourth quarter of the last fiscal year 2081/82 BS. During this period, the company’s profit has decreased slightly.
The company has a share capital of Rs 2.51 billion and retained earnings of Rs 755.9 million at the end of the review period. Other equities are worth Rs 327.4 million. As of the review year, the company has a disaster fund of Rs 165.8 million. There is 2.3 billion in the special reserve.
In the same period of the previous year, the company’s retained earnings stood at Rs 513.6 million. Other equities stood at Rs 292.5 million. The disaster fund was Rs 138.2 million. There was 2.2 billion in the special reserve.
In the review year, the company earned a total insurance premium of Rs 3.28 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 2.87 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 14.28 percent.
In this review year, the company has spent Rs 1.56 billion through reinsurance. In the same period of the previous fiscal year, the company had spent Rs 1.27 billion.
The company earned Rs 1.71 billion in net insurance premium in the review year. In the same period of the previous fiscal year, the company had earned a net insurance premium of Rs 1.60 billion. Compared to the previous year, the company’s net insurance revenue has increased by 6.87%.
According to the financial statement, the company has earned a profit of Rs 550 million in the review year. In the same period of the previous fiscal year, the company had earned a profit of Rs 590 million. Compared to the previous fiscal year, the company’s profit has decreased slightly in the review period.
In the review year, the company’s earnings per share was Rs 21.90. The price-to-earnings ratio is 32.44 times. The net worth per share is Rs 245.55.
