Net Profit of Neco Insurance Declines

Aug 14, 2024 12:32 PM Merolagani



Neco Insurance (NIL) has published its fourth quarter report of the last FY.

As per the report, its net profit declined compared to the corresponding period of the  previous FY.

In the review period, it earned net profit of Rs 685.7 million. The net profit declined by 2.74 percent compared to Rs 705 million of the corresponding period of the previous FY.

During the period, its net insurance premium decreased by 7.33 percent and total income by 3.90 percent. In the review period, its net claim payment decreased by 14.32 percent and total expenses by 5.53 percent.

The company maintained EPS of Rs 34.07, P/E ratio of 24.53 times and net worth per share of Rs 272.81.

The company with Rs 2.01 billion in paid-up capital has special reserve of Rs 2.09 billion, catastrophic fund of Rs 145.5 million, retained earnings of Rs 567.8 million and other equity of Rs 499.4 million.




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