Neco Insurance Logs Plain Growth

Aug 16, 2023 01:29 PM Merolagani



Neco Insurance  (NECO) earned Rs 553.1 million in net profit as per its fourth-quarter report of the last FY.

The net profit increased by 1.53 percent compared to Rs 544.8 million of the corresponding period of the previous FY.

During the period, its net insurance premium decreased by 4.03 percent to Rs 1.65 billion in the review period compared to Rs 7.72 billion of the previous FY.

During the period, it earned reinsurance commission of Rs 366.8 million and Rs 188.6 million from investment, loans and others.

The company with Rs 2.01 billion in paid-up capital has reserve fund of Rs 493.1 million, life insurance fund of Rs 1.63 billion and disaster fund of Rs 102.1 million.

The company maintained EPS of Rs 27.49, P/E ratio of 32.42 times and net worth per share of Rs 210.79.




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