Neco Insurance Logs Net Profit above Rs 340 Mn

May 12, 2022 01:08 PM Merolagani

Neco Insurance (NIL) has earned a net profit of Rs  342.6 million which declined by 2.36 percent compared to Rs 350.9 million of the corresponding period of the last FY.

During the period, the company collected net insurance premium of Rs 1.37 Billion in the review period. The net insurance premium increased by 1.17 percent compared to Rs 1.36 billion of the corresponding period of the last FY.

Moreover, the company earned Rs 223.4 million from reinsurance commission and Rs 106.2 million from investment, loans and other income.

 The company with Rs 1.52 billion in paid-up capital has reserve fund of Rs 622.2 million and an insurance fund of Rs 1.27 billion.

The company logged EPS of Rs 30.02, net worth per share of Rs 230.05 and P/E ratio of 29.78 times.

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