Neco Insurance Reports 15 Percent Rise In Net Profit [Q2 Report]
February 13, 2024 | Investopaper
Neco Insurance Company Limited (NIL) has reported a net profit of Rs 22.12 crores until the second quarter of the current fiscal year 2080/81. The profit has inclined by 15 percent as compared to the same period of the previous year. The company had earned Rs. 19.20 crores as net profit in the first six months of fiscal year 2079/80.
As of Poush’s end 2080 BS, Neco Insurance has a paid-up capital of Rs 201.23 crores. The reserve and surplus stood at Rs 261.6 crores.
In the first six months, NIL has earned a gross premium of Rs 109.41 crores while the net premium stood at Rs 61.60 crores. Similarly, the company paid a net claim of Rs 33.91 crores during this period.
In per-share ratios, Annualized Earnings Per Share (EPS) and Net worth Per Share is at Rs. 21.99 and Rs. 230.01 respectively.
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Dividend History Of Neco Insurance Company Limited (NIL)
The performance in second-quarter is also summarized in the table below:
Neco Insurance (NIL): Q2 Report Summary, FY 2080/81
| Financial Indicators | Q2, FY 2080/81 | Q4, FY 2079/80 | Percent Change |
| Paid-up Capital (Rs. ‘crores’) | 201.23 | 201.23 | 0.00 |
| Reserve & Surplus (Rs. ‘crores’) | 261.6 | 239.73 | 9.12 |
| Total Investments (Rs. ‘crores’) | 564.53 | 509.72 | 10.75 |
| Financial Indicators | Q2, FY 2080/81 | Q2, FY 2079/80 | Percent Change |
| Gross Premium (Rs. ‘crores’) | 109.41 | 104.84 | 4.36 |
| Net Premium (Rs. ‘crores’) | 61.6 | 58.06 | 6.10 |
| Net Claim (Rs. ‘crores’) | 33.91 | 37.97 | -10.69 |
| Net Profit (Rs. ‘crores’) | 22.12 | 19.2 | 15.21 |
| Number Of Policies | 154109 | ||
| Earnings Per Share (Rs.) | 21.99 | ||
| Networth Per Share (Rs.) | 230.01 | ||
| Market Price Per Share (Rs.) [Poush end, 2080 BS] | 843 | ||
| P/E Ratio | 38.34 |
Source: Unaudited Q2 Report, FY 2080/81
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, 2080 BS. At current, the numbers may vary.
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