Kathmandu. Neco Insurance Company has released its financial results for the second quarter of the current FY.

During the period, the company earned a profit of Rs 1,07,000. The company had posted a net profit of Rs 15.69 crore in the same quarter last year.

During this period, the company’s profit declined. The impact of the Genji agitation on September 23 and 24 and the floods in September has been seen on the financial condition of the company.

The company has earned Rs 1.18 billion in insurance premiums till mid-January. Likewise, in the same period of the last fiscal year, it was Rs 1.20 billion.

The company has earned a net premium of Rs 69.69 crore till mid-January. In the same period last year, the company had earned a net insurance premium of Rs 68.66 crore.

The total income of the company during the period was Rs 1,02.71 billion. It was Rs 1.04 billion in the same period last year. The company has a net worth of Rs 1.17 billion. It was Rs 82.41 crore in the same period last year.

The company has paid Rs 3,10,19,000 as commission to the agent. In the same period last year, it was 2 crore 14 lakh 93 thousand. During the period, the company earned Rs 0.80 and net worth per share stood at Rs 233.35. The company has a paid-up capital of Rs 2.69 billion and has a calamity fund of Rs 167.71 million.