Everest Insurance Earns Rs 7.5 Mn in Net Profit

Feb 09, 2021 01:12 PM Merolagani

Everest Insurance (EIC) has earned a net profit of Rs 74.2 million in the second quarter of the current FY. The net profit increased by Rs 17.3 million compared to Rs 56.9 million of the corresponding period of the last FY.

However, during the period, its net insurance premium amount has declined. It earned Rs 238.7 million in net insurance premium compared to Rs 194 million of the last FY.

During the period, it earned Rs 52.6 million from the reinsurance commission and Rs 21.4 million from investment, loan and other income.

The company with Rs 1.09 billion in paid-up capital has reserve fund of Rs 311.7 million and an insurance fund of Rs 363.8 million.

The company logged EPS of Rs 13.55, net worth per share of Rs 161.65 and P/E ratio of 47.88 times.

In the review period, the company paid Rs 407.8 million to 2,277 claims and has outstanding payment of  Rs 944.8 million to 3,941 claims.  

 

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