Kathmandu. Oriental Insurance Company for the financial year 2082. The company has published its unaudited financial statements for the second quarter of FY83. According to the financial report, the profit of the company was negative in the review period of the previous year.
The company had posted a net profit of Rs 16.22 crore in the review period as against a loss of Rs 19.75 crore in the corresponding period of the previous FY.
In the second quarter of the current fiscal year, the company has a special reserve of Rs 1.78 billion. During this period, the retained earnings stood at Rs 11.51 crore. The company has Rs 82.84 crore in equity.
The special reserve stood at Rs 1.69 billion as of mid-July last year. The retained earnings were Rs 7.25 crore. Other equity stood at Rs 80.83 crore.
During the review period, the company earned Rs 1.5 billion in total premiums. The company had posted a net profit of Rs 87.69 crore in the same quarter last year. The company’s total premium has increased by 19 percent in the review period compared to the previous year.
In the review period, the company earned a net insurance premium of Rs 65.83 crores. Compared to the previous fiscal year, the net insurance premium has increased by 40 percent. The company had posted a net profit of Rs 46.77 crore in the same quarter last year.
In the review period, the company spent Rs 39.31 crore on reinsurance. The company had spent Rs 40.91 crore in the same period of the previous FY.
