Neco Insurance Reports Slight Fall In Net Profit [Q1 Report]

November 16, 2022 | Investopaper

Neco Insurance Company Limited (NIL) has reported a 6 percent decline in net profit as per the unaudited first quarterly report of the fiscal year 2079/80. NIL has earned Rs 6.71 crores in net profit in the three months period. In the same period of the previous fiscal year, such profit stood at Rs 7.19 crores.

The decline in net profit is due to the decrease in net premium by almost 9 percent. During this period, Neco Insurance collected a total premium of Rs 82.84 crores. Likewise, the net premium income stood at Rs. 44.93 crores.

In the three months period, the company has paid a net claim of Rs 18.68 crores, down from 20.13 crores of the same period last year.


Dividend History Of Neco Insurance Company Limited (NIL)

Neco Insurance’s Performance In FY 2078/79

The first-quarterly report of Neco Insurance is summarized in the table below:

Neco Insurance (NIL): Q1 Report Summary, FY 2079/80

Financial Indicators Q1, F.Y. 2079/80 Q1, F.Y. 2078/79 Percent Change
Paid-up Capital (Rs. ‘crores’) 174.98 131.74 32.82
Reserve & Surplus (Rs. ‘crores’) 51.97 73.29 -29.09
Insurance Fund  (Rs. ‘crores’) 140.31 115.33 21.66
Total Investments  & Loans (Rs. ‘crores’) 455.86 403.89 12.87
Total Premium (Rs. ‘crores’) 82.84 81.37 1.81
Net Premium  (Rs. ‘crores’) 44.93 49.35 -8.96
Net Claim (Rs. ‘crores’) 18.68 20.13 -7.20
Total Outstanding Claim (Rs. ‘crores’) 182.75 199.26 -8.29
Net Profit  (Rs. ‘crores’) 6.71 7.19 -6.68
Management Expenses (Rs. ‘crores’) 12.67 8.9 42.36
Number Of Policies 78,608 81,557 -3.62
Earnings Per Share (Rs.) 15.36
Networth Per Share (Rs.) 215.59
Market Price Per Share (Rs.) [Ashwin end, 2079 BS] 672
P/E Ratio 43.75

Source: Unaudited Q1 Report, FY 2079/80


The above figures are based on the unaudited quarterly report published by the respective company. Investors are advised to take other things into consideration along with this report while making investment decisions. The numbers may vary after the final audit.

Note: If you want to see the reports of other companies, Click Here


Investopaper is a financial website which provides news, articles, data, and reports related to business, finance and economics.

Leave a Reply

Your email address will not be published.

error: Content is protected !!