NECO Insurance (NIL) has earned a net profit of Rs 124.4 million in the first quarter of the current fiscal year. This is 65.21 percent more than the corresponding period of the previous year.

The company had earned a net profit of Rs 75.3 million in the first quarter of the last fiscal year.

Similarly, the insurance premium of insurance has also increased by 30.63 percent and reached Rs 432.8 million. In the corresponding period of the previous fiscal year, the insurance company had earned net premium of Rs 331.3 million.

Insurance has earned Rs 55.5 million from reinsurance commission, Rs 22.9 million from investment loans and others.

The company, which has a paid-up capital of Rs 1.31 billion, has accumulated Rs 584 million in the reserve fund, Rs 893.9 million in the insurance fund and Rs 85.5 million in the catastrophe fund.

The company's annual earnings per share is Rs 37.79, net worth per share is Rs 218.40 and price-to-earnings ratio is 20.93 times.

During this period, the company has issued 78,042 insurance policies and collected a total premium of Rs. 861.7 million.