United Ajod Insurance's Profit Drops by 47%, Decline in All Revenue Sources

United Ajod Insurance has witnessed a significant decline in its financial performance for the second quarter of the current fiscal year. The company's net profit has plunged by 47.16% to Rs. 69.68 million, compared to Rs. 131.88 million in the same period last year.

Financial Highlights

🔹 Net Profit: Down by 47.16%, dropping to Rs. 69.68 million
🔹 Income from Investments & Loans: Fell by 27.67% to Rs. 132.18 million
🔹 Commission Income: Declined by 10.72% to Rs. 115.63 million
🔹 Total Income: Dropped by 7.93% to Rs. 699.38 million
🔹 Total Expenses: Increased by 5.68% to Rs. 603.35 million
🔹 Net Earned Premium: Slight decrease of 0.06% to Rs. 443.79 million

Capital Structure Overview

💰 Paid-up Capital: Rs. 2.10 billion
📈 Retained Earnings: Rs. 163.75 million
📊 Earnings Per Share (EPS): Dropped by Rs. 7.21 to Rs. 6.64
🏦 Net Worth Per Share: Rs. 180.6

company suffered a decline in all major revenue sources. Income from investments and loans, commission income, and net earned premium all decreased. Additionally, total expenses have increased by 5.68%, further contributing to the drop in profit.

The overall insurance market appears to be weakening, affecting the revenue of companies in the sector. United Ajod Insurance's second-quarter financial report indicates a challenging period for insurance companies.