United Ajod Insurance Reports Rs 116.1 Million in Net Profit in Q3

Kathmandu – United Ajod Insurance has recorded a sharp decline in profitability in the third quarter of the current fiscal year, with its net profit falling by 57.65% compared to the same period last year.

As per the unaudited financial report published by the company, it has earned a net profit of Rs 116.1 million so far this fiscal year. This is a significant drop from the Rs 274.1 million profit posted in the corresponding period of the previous fiscal year.

The company also reported a decline in its net earned premium, which decreased by 8.16%, falling from Rs 784.4 million to Rs 720.4 million.

United Ajod Insurance experienced a 13.41% reduction in total income, which declined from Rs 1.27 billion to Rs 1.10 billion. At the same time, its total expenses rose by 8.58%, increasing from Rs 867.7 million to Rs 942.1 million.

The company currently has a paid-up capital of Rs 2.10 billion. Its financial position includes Rs 43.6 million in the disaster fund, retained earning of Rs 165.8 million, and Rs 990 million allocated to the special reserve.

Earnings per share (EPS) have fallen to Rs 7.37 from Rs 17.41 in the same period last year, reflecting a decrease of Rs 10.04. The net worth per share stands at Rs 189.59.