Nepal Insurance Records 50% Growth in Net Profit

May 12, 2023 12:14 PM Merolagani

Nepal Insurance (NICL) has earned a net profit of Rs 286.5 million in the third quarter of the current FY. The net profit grew by 49.60 percent compared to Rs 179.4 million of the corresponding period of the last FY.

During the period, the company collected net insurance premium of Rs 601.6 million in the review period. The net insurance premium increased by merely 0.06 percent compared to Rs 601.3 million of the corresponding period of the last FY.

Moreover, the company earned Rs 140.8 million from reinsurance commission and Rs 75.3 million from investment, loans and other income.

 The company with Rs 1.79 billion in paid-up capital has reserve fund of Rs 436.2 million and an insurance fund of Rs 894.3 million.

The company maintained EPS of Rs 25.56, net worth per share of Rs 189.02 and P/E ratio of 20.24 times.


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