Kathmandu. Kathmandu: Nepal Micro Insurance Company 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 total insurance premium of Rs 127.7 million till the third quarter. In the same period last year, the company had earned a total insurance premium of Rs 24.84 million. The total insurance premium has increased by 414.03 percent compared to the previous year.
The company has earned a net insurance premium of Rs 54.66 million till Mid-April. In the same period last year, the company had earned a net insurance premium of Rs 7.74 million. Net insurance premium has also increased by 605.74 percent.
As of the third quarter, the company has a paid-up capital of Rs 750 million, Rs 2.67 million in special reserves, Rs 267,000 in disaster fund, Rs 2.2 million in retained earnings and Rs 18,000 in other equities. As of Mid-July last year, the company had rs 2.43 million in special reserve, Rs 243,000 in disaster fund, Rs 1.996 million in retained earnings and Rs 13,000 in other equities.
As of Mid-April, the size of the company’s insurance fund has reached a height of Rs 182.72 million. The insurance fund stood at Rs 87.86 4 million by mid-June of the previous fiscal year. The size of the insurance fund has increased by 128.18 percent.
The company has posted a net profit of Rs 481,000 during the review period. The company had posted a net profit of Rs 2.4million in the same period last year. The profit has decreased by 80.08 percent compared to the previous year.
The company’s annualised earnings per share declined to Rs 0.09. Last year, the EPS was Rs 0.61. The net worth of the company is Rs 101 per share.
