Neco Insurance Earns Rs 26.40 Crores In Six Months (Q2 Report)
February 12, 2021 | Investopaper
Neco Insurance Company Limited (NIL) has reported a net profit of Rs 26.40 crores until the second quarter of the current fiscal year 2077/78. The profit has surged by 60 percent as compared to the same period of the previous year. The company had earned Rs. 16.47 crores in net profit in the first six months of fiscal year 2076/77.
As of Poush end 2077 BS, Neco Insurance has a paid-up capital of Rs 131.74 crores. The reserve and surplus stood at Rs 64.32 crores. Likewise, the insurance fund amounts to Rs 96.32 crores.
In the first six months, the insurance has collected a total premium of Rs 136.47 crores while the net premium stood at Rs 94.43 crores. Similarly, the company paid a net claim of Rs 25.79 crores during this period.
In per-share ratios, Annualized Earnings Per Share (EPS) and Net worth Per Share is at Rs. 40.08 and Rs. 229 respectively.
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The performance in second-quarter is also summarized in the table below:
Neco Insurance Second Quarter Report Summary, FY 2077/78
| Financial Indicators | Q2, F.Y. 2077/78 | Q2, F.Y. 2076/77 | Percent Change |
| Paid-up Capital (Rs. ‘crores’) | 131.74 | 131.74 | 0.00 |
| Reserve & Surplus (Rs. ‘crores’) | 64.32 | 39.67 | 62.14 |
| Insurance Fund (Rs. ‘crores’) | 96.36 | 68.98 | 39.69 |
| Total Investments (Rs. ‘crores’) | 343.31 | 304.75 | 12.65 |
| Total Premium (Rs. ‘crores’) | 136.47 | 115.71 | 17.94 |
| Net Premium (Rs. ‘crores’) | 94.43 | 70.99 | 33.02 |
| Net Claim (Rs. ‘crores’) | 25.79 | 25.85 | -0.23 |
| Total Outstanding Claim (Rs. ‘crores’) | 88.12 | 40.37 | 118.28 |
| Net Profit (Rs. ‘crores’) | 26.4 | 16.47 | 60.29 |
| Management Expenses (Rs. ‘crores’) | 15.15 | 15.42 | -1.75 |
| Number Of Policies | 174,710 | 117,809 | 48.30 |
| Earnings Per Share (Rs.) | 40.08 | ||
| Networth Per Share (Rs.) | 229 | ||
| Market Price Per Share (Rs.) [Poush end, 2077] | 1280 | ||
| P/E Ratio | 31.94 |
Note:
The above figures are based on the unaudited second-quarter 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.
The share price, as well as the P/E ratio, is based on the data of Poush end, 2077. At current, the numbers may vary.
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