United Ajod Insurance Reports Loss in First Quarter Due to Decreased Income

Kathmandu: United Ajod Insurance Limited has published its financial statement for
the first quarter of the current fiscal year, revealing a significant decline in income and
a shift from profit to loss.

The company’s total income for the first quarter of the current year was Rs. 32
million, down from Rs. 371.7 million in the same period last year. This decrease in
income led to a loss of Rs. 18.1 million, a stark contrast to the profit of Rs. 38.6
million the company earned during the first quarter of the previous year.

United Ajod Insurance’s net insurance premium income for the first quarter of the
current year amounted to Rs. 193 million, a significant increase from Rs. 235.2
million in the same period last year. However, this increase was offset by higher
expenses, which rose from Rs. 316.5 million to Rs. 345.9 million during the review
period.

The company’s insurance fund now exceeds Rs. 3.49 billion, with over Rs. 1.54
billion still pending to be paid to the insured. The company’s paid-up capital is Rs. 2.1
billion, and it has accumulated Rs. 1.13 billion in its reserve fund, Rs. 110 million in
the disaster fund, and nearly Rs. 980 million in the special reserve.

United Ajod’s earnings per share (EPS) is negative Rs. 3.46, while its net worth per
share stands at Rs. 177.1.