United Ajod Insurance Reports Rs 216.4 Million Profit, Net Premium Increases by 7.29%

Kathmandu — United Ajod Insurance Limited has earned a net profit of Rs 216.4 million for the fiscal year 2081/82, a decline of 12.87% from Rs 248.4 million in the previous fiscal year, according to the company’s financial statements published today.

Despite the drop in profit, the company’s insurance business expanded. Net premium income increased by 7.29% to Rs 1.17 billion from Rs 1.9 billion last year.

Total income, however, fell by 4.76% to Rs 1.74 billion from Rs 1.83 billion, primarily due to decreased returns from investments and loans. Total expenses also declined slightly by 0.80%, from Rs 1.42 billion to Rs 1.41 billion. Commission expenses were reduced by 27.92%, from Rs 76.2 million to Rs 54.9 million.

Earnings per share (EPS) dropped from Rs 11.83 to Rs 9.37, while net worth per share stood at Rs 176.76. The company’s paid-up capital increased by 10% to Rs 2.31 billion. The company maintains Rs 1.2 billion in special reserves, Rs 4.5 million in its catastrophe fund, and Rs 100.6 million in the reserve fund.