Prabhu Insurance Sees 48.84% Dip in Q3 Profit Despite Growth in Insurance Fund

Kathmandu — Prabhu Insurance has published its financial report for the third quarter of the current fiscal year 2081/82, revealing a significant decline in profit alongside notable growth in key financial reserves.

The company posted a net profit of Rs 200.2 million during the nine-month review period, marking a sharp 48.84 percent decrease compared to Rs 391.4 million in the same period of the previous fiscal year.

Despite the fall in profitability, the company’s insurance fund surged by 45.99 percent, rising from Rs 1.76 billion to Rs 2.57 billion. However, the company experienced a 33.56 percent drop in total income, which declined from Rs 1.09 billion to Rs 726.1 million. Total expenses also saw a reduction of 17.55 percent, totalling Rs 440.13 million during the period.

As of the end of the third quarter, the company’s paid-up capital stands at Rs 1.44 billion. Meanwhile, its disaster fund rose by 9.50 percent to Rs 115.3 million, and the reserve fund increased by 43.51 percent to Rs 290.1 million. The company has earnings per share (EPS) of Rs 18.53 and a net worth per share of Rs 235.