Nepal Insurance Posts Rs. 49.77 Crores in Net Profit (Q2 Report)
February 12, 2024 | Investopaper
Nepal Insurance Company Limited (NICL), the pioneer non-life insurance company of Nepal, has reported decent growth in performance until the second quarter of this fiscal year 2080/81. The insurance has posted a net profit of Rs. 49.77 crores in the six months period, up from Rs. 14.97 crores of the corresponding period of the previous year.
The rise in profit is due to the investment income of Rs. 71.43 crores, which stood at Rs. 16 crores during the same period of the last fiscal year.
As of Poush’s end 2080 BS, Nepal Insurance has a paid-up capital of Rs. 164.44 crores. Likewise, the reserve and surplus is at Rs 174.5 crores.
Nepal Insurance has collected Rs. 72.54 crores in total premium during the six months period. Likewise, the net premium increased to Rs. 29.67 crores.
The net claim has increased to Rs. 12.01 crores.
NICL has an annualized Earnings Per Share (EPS) of Rs. 60.55 while the per-share net worth is at Rs. 206.14.
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The summarized version of the second-quarter report of Nepal Insurance is also presented in the table below:
Nepal Insurance (NICL): Q2 Report Summary, FY 2080/81
| Financial Indicators | Q2, FY 2080/81 | Q4, FY 2079/80 | Percent Change |
| Paid-up Capital (Rs. ‘crores’) | 164.44 | 149.47 | 10.02 |
| Reserve & Surplus (Rs. ‘crores’) | 174.5 | 140.55 | 24.16 |
| Total Investments (Rs. ‘crores’) | 431.15 | 352.49 | 22.32 |
| Financial Indicators | Q2, FY 2080/81 | Q2, FY 2079/80 | Percent Change |
| Total Premium (Rs. ‘crores’) | 72.54 | 68.17 | 6.41 |
| Net Premium (Rs. ‘crores’) | 29.67 | 28 | 5.96 |
| Net Claim (Rs. ‘crores’) | 12.01 | 11.6 | 3.53 |
| Net Profit (Rs. ‘crores’) | 49.77 | 14.97 | 232.46 |
| Number Of Policies | 84792 | 87942 | -3.58 |
| Earnings Per Share (Rs.) | 60.55 | ||
| Networth Per Share (Rs.) | 206.14 | ||
| Market Price Per Share (Rs.) [Poush end, 2080 BS] | 930 | ||
| P/E Ratio | 15.36 |
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’s end, 2080 BS. At current, the numbers may vary.
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