Nepal Reinsurance Company Reports Decline in Profits for Last Fiscal Year

Kathmandu – Nepal Reinsurance Company Limited has published its financial statements for the fourth quarter of the last fiscal year (2080/81), revealing a decrease in net profit and earnings per share compared to the previous year. Additionally, the company also made public its second-quarter financial results for the current fiscal year.

The company earned a net profit of Rs 1.13 billion in the last fiscal year, marking a significant 27.41% decrease from the Rs 1.55 billion profit recorded in the previous fiscal year. This decline has also reflected in the company’s earnings per share (EPS), which fell from Rs 12.17 to Rs 8.43.

In terms of revenue, Nepal Reinsurance reported a net insurance premium of Rs 9.49 billion for the last fiscal year. This shows a slight decline from the previous fiscal year’s figure of Rs 9.88 billion. The company’s total income also decreased from Rs 12.30 billion to Rs 11.28 billion.

Despite the decline in profits, the company has maintained a solid financial position. With a paid-up capital of Rs 13.42 billion, it holds Rs 4.40 billion in special reserves, Rs 320 million in the disaster fund, and Rs 520 million in retained earnings.

Furthermore, the company has seen an increase in its insurance fund, which grew from Rs 7.24 billion to over Rs 9 billion in the last fiscal year and the company’s net worth per share stands at Rs 145.