Net profit of United insurance increased by 47%

Kathmandu November 16- Private sector general insurance company United insurance company has increased its net profit by 47.67% in the first quarter to Rs. 3.7 million which was Rs. 2.5 million in the corresponding quarter of last FY.

Paid up capital of company has amounted to Rs. 252 million and reserve is of Rs. 137.1 million. Income of the company has boosted by 66.56% to Rs. 9.8 million from Rs. 5.8 million last year. Similarly, expenses of the company have increased by 81.01% to Rs. 6 million from Rs. 3.3 million last year.

During the period, company has earned Rs. 76.2 million insurance premium which was Rs. 59 million last FY. In the first quarter of current fiscal year, company has paid Rs. 33.7 million on insurance claim which was Rs. 18.9 million last year.

In this period, company has issued 13,502 insurance policies which is more than corresponding period of previous year. Company has got 569 insurance claims during the period.

According to the financial report of first quarter, EPS of the company is 1.49%, P/E ratio is of 249.52%, Net worth per share is 181.29% and liquidity ratio is of 2.85%.