NIL Records Marginal Increase in Net Profits in Q4; EPS Stands at Rs. 27.47
Wed, Aug 16, 2023 7:42 AM on Financial Analysis, Latest,
Neco Insurance Limited (NIL) has published its fourth-quarter report for the recently concluded financial year 2079-80 with a marginal increase of 1.53 percent in its Net profit. As of FY 2079-80, the company has made Rs. 55.31 crores as opposed to earning Rs. 54.48 crores until the corresponding quarter of the previous FY 2078-79.
The Earnings per Share (EPS) of the company has declined as well to stand at Rs. 27.47, alongside a Net worth per Share of Rs. 210.74, as of FY 2079-80’s end.
The Net premium accumulated by the non life insurance company totals Rs. 1.65 Arba as it has declined slightly until the last quarter of the recently wrapped up financial year 2079-80.
The number of policies sold by the company, however, has dropped marginally to stand at 2.97 lakhs until Q4 of FY 2079-80.
NIL maintains Rs. 2.01 Arba in paid-up capital and has Rs. 49.13 crores in the form of Reserve and Surplus as of FY 2079-80’s end.
Major Financial Highlights:
| Particulars (In Rs '000) | Neco Insurance Limited | ||
|---|---|---|---|
| Q4 2079/80 | Q4 2078/79 | Difference | |
| Paid Up Capital | 2,013,261.00 | 1,749,879.00 | 15.05% |
| Reserve and Surplus | 491,339.00 | 504,907.00 | -2.69% |
| Insurance Fund | 1,636,067.00 | 1,359,496.00 | 20.34% |
| Contingent Fund | 102,133.00 | 74,476.00 | 37.14% |
| Net Premium | 1,659,704.00 | 1,729,351.00 | -4.03% |
| Re-insurance Income | 366,819.00 | 310,206.00 | 18.25% |
| Claim Payment (Net) | 871,489.00 | 872,606.00 | -0.13% |
| Agent Commission | 63,753.00 | 68,947.00 | -7.53% |
| Net Profit | 553,142.00 | 544,818.00 | 1.53% |
| No of Policies (No.s) | 297154.00 | 298820.00 | -0.56% |
| Earnings per Ratio (EPS) ratio (In Rs.) | 27.47 | 31.13 | -11.75% |
| Net Worth per Share (In Rs.) | 210.74 | 210.80 | -0.03% |
| PE Ratio (times) | 32.43 | - | - |
| Qtr End Market Price (In Rs.) | 891.10 | - | - |
