Net profit of Lumbini insurance increased by 2 times

Kathmandu November 17- Private sector general insurance company Lumbini general  insurance company has increased its net profit by 2 times in the first quarter to Rs. 20.8  million which was Rs. 9.4 million in the corresponding quarter of last FY.

With the paid up capital of Rs. 290 million, income of the company has increased by 2 times to Rs. 34.5 million and management and expenses of the company have increased by 96.56% to Rs. 13.7 million.

During the period, company has earned Rs. 109 million insurance premium i.e. 2.63% decline than the last corresponding quarter which was Rs. 111.9 million. In the first quarter of current fiscal year, company has paid Rs. 59.9 million on insurance claim which is 29.44% growth than last year which was Rs. 45.9 million.

In this period, company has issued 27 thousand 495 insurance policies which is more than corresponding period of previous year. Company has got 853 insurance claims during the period.

According to the financial report of first quarter, EPS of the company is Rs. 28.57,  P/E ratio is of Rs. 13.23 and net worth per share is Rs. 162.95.