United Ajod Insurance Reports Decline in Net Profit in Second Quarter

Kathmandu – United Ajod Insurance Limited has published its financial statement for the second quarter of the current financial year, revealing a significant drop in net profit due to decreased income and net insurance premiums.

According to the report, the company’s net profit fell by 47.16% to Rs 69.6 million, compared to Rs 131.8 million in the same period last year. The decline in profit is attributed to a decrease in both total income and net insurance fee earnings.

The company’s total income, which stood at Rs 759.6 million last year, dropped to Rs 699.3 million this year. Similarly, net insurance fee income slightly decreased from Rs 444 million to Rs 443.7 million.

The drop in profitability has also impacted the company’s earnings per share (EPS), which fell from Rs 13.85 last year to Rs 6.64 this year.

Despite the decline in profit, the company maintains a strong financial position. Its paid-up capital stands at Rs 2.01 billion, with Rs 45.02 million in a special reserve, Rs 16 million in retained earnings, and over Rs 4 million allocated to the disaster fund.

Additionally, the company’s non-life insurance fund has increased from Rs 3.3 billion last year to Rs 3.5 billion this year. The net worth per share is recorded at Rs 180.60.