Prabhu Insurance Reports 10% Profit Growth in First Quarter

Kathmandu – Prabhu Insurance Limited has released its financial statement for the first quarter of the current fiscal year, showing a 10% increase in net profit compared to the same period last year.

The company earned a profit of Rs. 56 million in the first quarter of the current year, up from Rs. 50.6 million during the same period last year. As a result, the company’s earnings per share (EPS) increased from Rs. 14.73 to Rs. 15.54.

During the review period, Prabhu Insurance earned Rs. 119.4 million in net insurance premiums. The company’s total income amounted to Rs. 232.4 million, with expenditures of Rs. 152.3 million. The company’s insurance fund now stands at over Rs. 2.29 billion, while claims amounting to Rs. 1.35 billion are still pending.

Prabhu Insurance’s paid-up capital is Rs. 1.44 billion, and it has accumulated Rs. 250 million in the reserve fund, Rs. 11 million in the disaster fund, and over Rs. 1.32 billion in the special reserve. The company’s net worth per share is Rs. 226.