Neco Insurance reports 46% rise in Net Profit

February 12, 2019 | Investopaper

Neco Insurance has published its unaudited second-quarter report of F.Y. 2075/76 today. The unaudited report shows that the net profit has increased by 46.19% to Rs. 17.03 crores in the second quarter. The net profit as of the 2nd quarter previous year stood at Rs. 11.65 crores.

The net premium till the second quarter is Rs. 60.31 crores. The net claim until the second quarter is Rs. 24.12 crores. The total premium collection is Rs. 97.97 crores. The total outstanding claim remains at Rs. 32.88 crores.

The insurance has paid up capital of Rs. 117.63 crores, a reserve of Rs. 44 crores and insurance fund of Rs. 54.34 crores. The Annualized EPS is Rs. 28.96 and net worth per share is Rs. 187.93as of the unaudited second quarter.


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