The company had posted a net loss of Rs 5.84 billion during the period. The company had posted a net profit of Rs 548.2 million in the corresponding period of the previous FY.
However, the company has earned a profit of Rs 2.14 billion in the third quarter (Magh-Chaitra) of the last FY. However, due to the impact of heavy claim payments in the previous quarters, the overall results for the 9 months remained at a loss.
The main reason for the increase in the company's net claim payment expense has been the main reason for the occurance of the losses. The net claim payment expenses increased to Rs 10.83 billion in the review period from Rs 5.17 billion in the previous year.
In addition, the company's income from investment decreased from Rs 94.26 crore to Rs 47.54 crore. Similarly, the net insurance premium has decreased from Rs 7.11 billion to Rs 5.83 billion.
During the period, the company logged LPS of Rs 43.51 and net worth of Rs 109.20. The company with Rs 13.42 billion in paid-up capital has reserve loss of Rs 4.90 billion.
