Kathmandu. Oriental Insurance Company for the financial year 2082. It has published unrevised financial statements for the first quarter of FY83. According to the financial report, the profit of the company is negative, while most of the indicators except profit have increased.
The company reported a loss of Rs 28.48 crore in the first quarter. The company had posted a net loss of Rs 24.51 crore in the same quarter of the previous FY.
In the first quarter of the current fiscal year, the company had a special reserve of Rs 1.69 billion. During the period, the company posted a loss of Rs 19.42 crore. Other equities include Rs 79.01 crore.
As of mid-July last year, the special reserve had amounted to Rs 1.69 billion. The retained earnings were Rs 7.25 crore. Other equity stood at Rs 80.83 crore.
During the review period, the company earned a total insurance premium of Rs 43.66 crores. The company had posted a net profit of Rs 37.49 crore in the same quarter last year. The company’s total premium has increased by 16 percent in the review period compared to the previous year.
In the review year, the company earned a net insurance premium of Rs 28.08 crore. Compared to the previous fiscal year, the net insurance premium has increased by 44 percent. The company had posted a net insurance premium of Rs 19.44 crore in the same quarter last year.
In the review period, the company spent Rs 15.58 crore on reinsurance. The company had spent Rs 18.05 crore in the same period last year.
