Nepal Insurance Reports 82.71% Decline in Profit in Second Quarter of the Current Fiscal Year

Kathmandu – Nepal Insurance Company has published its financial statement for the second quarter of the current financial year, revealing a significant decline in profit despite growth in insurance fee earnings.

According to the report, the company’s profit fell sharply by 82.71%, reaching Rs 86.27 million during the first six months of the financial year. This is a steep drop compared to the same period last year when the company recorded a profit of Rs 497.7 million.

Despite the decline in profit, Nepal Insurance saw a rise in total insurance fee earnings. The company’s total insurance fee earnings increased from Rs 725.4 million to Rs 816.4 million during the review period. Additionally, the company’s net insurance fee income also showed improvement, rising to Rs 328.3 million from Rs 296.7 million in the same period last year.

The financial statement also highlights that the company’s paid-up capital stands at Rs 1.64 billion, while its retained earnings are reported at Rs 201.3 million.

Furthermore, the company recorded earnings per share (EPS) of Rs 10.46, while its net worth per share reached Rs 215.37 by the end of the second quarter.