Kathmandu. Kathmandu: Nepal Insurance Company (NIC) 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 178.4 million till the third quarter. The company had posted a net profit of Rs 294.6 million in the same period of the previous fiscal year. Compared to the previous fiscal year, the company’s profit decreased by 39.44 percent in the review period.
As of the third quarter of the current fiscal year, the company has rs 1.42 billion in special reserves, Rs 104.3 million in disaster fund, Rs 87.1 million in retained earnings and Rs 103.1 million in other equities. As of Mid-July last year, rs 1.33 billion was in special reserves, Rs 95.4 million in disaster fund, Rs 264.4 million in retained earnings and Rs 119 million in other equities.
Till the third quarter, the company has earned a total insurance premium of Rs 1.27 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 1.19 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 7.37 percent.
The company has earned Rs 592.3 million in net insurance premium till the review period. In the same period of the previous fiscal year, the company had earned a net insurance premium of Rs 491.3 million. Net insurance premium has increased by 20.56 percent compared to the previous year.
The company’s annualized earnings per share (EPS) has come down to Rs 12.58 per share. Last year, the EPS was Rs 23.89. With a PE ratio of 63.69 times, the company has a net worth of Rs 190.91 per share.
