Rastriya Beema Company Reports Decline in Profit and Rising Expenses in Second Quarter

Kathmandu – The state-owned Rastriya Beema Company has reported a decline in its financial performance for the second quarter of the current fiscal year, according to its recently published financial statements. The company’s net profit, total income, and earnings per share have all decreased compared to the same period last year, while total expenses have risen significantly.

The company recorded a net profit of Rs 346.6 million in the second quarter, an 18.86 percent decrease from Rs 427.2 million in the previous fiscal year. Similarly, total income fell from Rs 755.1 million last year to Rs 724.9 million this year, reflecting an equivalent 18.86 percent decline.

This downturn in profitability was further exacerbated by a 29.77 percent rise in total expenses, which increased from Rs 214.2 million in the previous fiscal year to Rs 277.9 million in the current fiscal year. The growing expenditure has placed additional pressure on the company’s financial performance.

The company’s earnings per share (EPS) have also declined, dropping from Rs 160.24 in the previous fiscal year to Rs 130.02 in the current period. Despite these challenges, Rastriya Beema Company maintains a solid financial base, with a paid-up capital of Rs 266.6 million. The company has accumulated Rs 3.11 billion in special reserves, Rs 2.44 billion in retained earnings, and Rs 680 million in its disaster fund.

Additionally, the company’s life insurance fund stands at Rs 3.18 billion, while its net worth per share is valued at Rs 6,322.83. The company’s price-earnings ratio is currently 113.98 times.