Neco Insurance Reports Net Profit Of Rs 44.85 Crores In FY 2076/77

August 19, 2020 | Investopaper

Neco Insurance (NIL) has reported a 30.5 percent growth in net profit as per the un-audited fourth quarter report of the fiscal year 2076/77.  Neco Insurance has earned Rs 44.85 crores in net profit. In the previous fiscal year 2075/76, such profit stood at Rs 34.05 crores.

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The profit has surged despite an 8 percent growth in total premium income. Neco Insurance collected a total premium of Rs 207.36 crores. Likewise, the net premium income has increased by 10.92 percent to Rs. 127.02 crores. In the previous fiscal year, the net premium stood at Rs. 114.52 crores.

However, the net claim has declined an 8 percent to Rs 50.87 crores. The total outstanding claim at the end of Ashad 2077 remain at Rs 60.67 crores.

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Neco Insurance has a paid-up capital of Rs. 131.74 crores. Similarly, the reserve and insurance fund are at Rs. 52.44 crores and Rs 83.17 crores.

At Ashad end 2077, Neco Insurance has an Earnings Per Share (EPS) of Rs 34.05.


Neco Insurance (NIL)- Major Financial Indicators For FY 2076/77

Paid-up Capital: Rs 131.74 Crores

Reserve & Surplus: Rs 52.44 Crores

Insurance Fund: Rs 83.17 Crores

Total Investments: Rs 314.81 Crores

Total Premium: Rs 207.36 Crores

Net Premium: Rs 127.02 Crores

Net Claim: Rs 50.87 Crores

Total Outstanding Claim: Rs 60.67 Crores

Net Profit: Rs 44.85 Crores

Management Expenses: Rs 33.21 Crores

Number Of Policies: 244,874

Earnings Per Share (EPS): Rs 34.05

Networth Per Share: Rs 208.96


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The fourth-quarter report of Neco Insurance is also summarized in the table below:

Neco Insurance Fourth Quarter Report Summary, FY 2076/77

Headings 4th Qtr, F.Y. 2076/77 4th Qtr, F.Y. 2075/76 Percent Change
Paid-up Capital (Rs. ‘crores’) 131.74 117.63 12.00
Reserve & Surplus (Rs. ‘crores’) 52.44 46.37 13.09
Insurance Fund  (Rs. ‘crores’) 83.17 60.74 36.93
Total Investments  (Rs. ‘crores’) 314.81 273.44 15.13
Total Premium (Rs. ‘crores’) 207.36 191.62 8.21
Net Premium  (Rs. ‘crores’) 127.02 114.52 10.92
Net Claim (Rs. ‘crores’) 50.87 55.46 -8.28
Total Outstanding Claim (Rs. ‘crores’) 60.67 40.66 49.21
Net Profit  (Rs. ‘crores’) 44.85 34.37 30.49
Management Expenses (Rs. ‘crores’) 33.21 31.3 6.10
Number Of Policies 244,874 276,715 -11.51
Earnings Per Share (Rs.) 34.05
Networth Per Share (Rs.) 208.96
Market Price Per Share (Rs.) [Ashad end, 2077] 607
P/E Ratio 17.83

Note:

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.

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