Neco Insurance Reports Slight Drop in Net Profit [Q3 Report]
May 12, 2024 | Investopaper
Neco Insurance Company Limited (NIL) has reported a slight decline in the net profit until the third quarter of the fiscal year 2080/81. The insurance earned a net profit of Rs. 37.74 crores in the nine months of current fiscal year. In the last fiscal year, Neco Insurance had earned a profit of Rs. 38.39 crores until the third quarter.
At the end of Chaitra 2080 BS, Neco insurance has gross earned premium of Rs. 193.41 crores, a growth of 5 percent from the last year. The net earned premium stood at Rs. 107.35 crores. During this period, the net claim decreased to Rs. 56.46 crores.
Based on the unaudited report, the annualized Earnings Per Share (EPS) and net-worth per share are at Rs. 25.01 and Rs 241.02 respectively.
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Dividend History Of Neco Insurance Company Limited (NIL)
The unaudited third-quarterly report of Neco Insurance is summarized in the table below:
Neco Insurance (NIL): Q3 Report Summary, FY 2080/81
| Financial Indicators | Q3, FY 2080/81 | Q4, FY 2079/80 | Percent Change |
| Paid-up Capital (Rs. ‘crores’) | 201.23 | 2012.23 | -90.00 |
| Reserve & Surplus (Rs. ‘crores’) | 283.77 | 239.73 | 18.37 |
| Total Investments (Rs. ‘crores’) | 610.37 | 509.72 | 19.75 |
| Financial Indicators | Q3, FY 2080/81 | Q3, FY 2079/80 | Percent Change |
| Gross Earned Premium (Rs. ‘crores’) | 193.41 | 184.2 | 5.00 |
| Net Earned Premium (Rs. ‘crores’) | 107.35 | 108.36 | -0.93 |
| Net Claim (Rs. ‘crores’) | 56.46 | 61.58 | -8.31 |
| Net Profit (Rs. ‘crores’) | 37.74 | 38.39 | -1.69 |
| Number Of Policies | 230411 | 232650 | -0.96 |
| Earnings Per Share (Rs.) | 25.01 | ||
| Networth Per Share (Rs.) | 241.02 | ||
| Market Price Per Share (Rs.) [Poush end, 2080 BS] | 819 | ||
| P/E Ratio | 32.75 |
Source: Unaudited Q3 Report, FY 2080/81
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.
The share price, as well as the P/E ratio, is based on the data of Chaitra end, 2080 BS. At current, the numbers may vary.
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