Kathmandu. Prabhu Insurance Company has released the revised financial statements for the third quarter of the current fiscal year. According to the financial statement, except for the profit of the company, most of the indices have seen a slight increase.
As of the third quarter of the current fiscal year, the company has Rs 115.3 million in disaster fund, Rs 290 million in retained earnings, Rs 1.36 billion in special reserves and Rs 167.7 million in other equities.
The company had posted a net profit of Rs 200 million in the third quarter. The company had posted a net profit of Rs 391.4 million in the same period of the previous fiscal year. Compared to the previous fiscal year, the company’s profit has decreased in the review period.
Till the third quarter, the company has earned a total insurance premium of Rs 1.16 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 1.11 billion. The company’s total insurance premium has increased compared to the same period of the previous fiscal year.
The company has earned a net insurance premium of Rs 476.3 million during the review period. In the same period of the previous fiscal year, the company had earned Rs 464.3 million in net insurance premium. Net insurance revenue has increased by 2.58 percent compared to the previous year.
During the review period, the company spent Rs 690.2 million through reinsurance. In the same period last year, the company had spent Rs 655.2 million through reinsurance. The company has spent Rs 28.2 million through agent commission during this period.
At the end of the review period, the company’s solvency ratio was 3.92 percent. The company’s annualized earnings per share (EPS) is Rs 18.53. The PE ratio is 49 times. The net worth of the company is Rs 235 per share.
