Oriental Insurance reports decrease in profit by 38.47%; Accumulated net premium worth Rs 48.79 crore

Tue, May 22, 2018 1:58 AM on Financial Analysis, Latest,

Oriental Insurance has posted decrease in its net profit by 38.47% in the third quarter of the ongoing fiscal year 2074/75.

Publishing the financial report today, it stated net profit of Rs 12.56 crore in Q3 of the FY 2074/75, down from Rs 20.41 crore in the corresponding quarter of the FY 2073/74.

While its income from net premium has also decreased from Rs 52.74 crore to Rs 48.79 crore at the end of Q3 this year, its income from reinsurance commission has increased to Rs 2.19 crore.

Its reserve fund is still negative at Rs 2.89 crore and insurance fund amounts to Rs 49.12 crore.

It will be issuing IPO shares to the general public in upcoming days.

Likewise, it has paid claim of Rs 43.42 crore in the third quarter of the current fiscal year.