Rastriya Beema Company & Siddhartha Insurance posted annualized EPS of Rs 279.44 & Rs 27.38 in Q2 respectively

Rastriya Beema Company Limited (RBCL) has stated soars in its net profit by 42.39% in the second quarter of the ongoing fiscal year 2074/75. Publishing the financial report today, it has posted net profit of Rs 37.25 crore in Q2 of the FY 2074/75, up from Rs 26.16 crore in the corresponding quarter of the FY 2073/74. While its income from net premium has also increased from Rs 10.62 crore to Rs 12.88 crore at the end of Q2 this year, its income from reinsurance commission has decreased to Rs 1.38 crore. It has Rs 1.98 arba in reserve whereas insurance fund amounts to Rs 1.26 arba. Its paid up capital stands at Rs 26.66 crore (as taken from NEPSE). Thus, RBCL must hike its capital by RS 73.34 crore (around 275%) to meet the capital requirement of Rs 1 arba. Its earning per share stands at Rs 139.70 (annualized EPS = Rs 279.44), net worth per share at Rs 843.11 and P/E ratio at 96.99 times. Siddhartha Insurance Company Limited (HGI) has posted increase in its net profit by 5.40% in the second quarter of the ongoing fiscal year 2074/75. Publishing the financial report today, it has posted net profit of Rs 8.78 crore in Q2 of the FY 2074/75, up from Rs 8.33 crore in the corresponding quarter of the FY 2073/74. While its income from net premium has also increased from Rs 39.83 crore to Rs 44.95 crore at the end of Q2 this year, its income from reinsurance commission has also hiked to Rs 11.57 crore. Its current paid up capital stands at Rs 64.14 arba with Rs 7.90 crore in reserve and insurance fund amounts to Rs 45.66 crore.  SIL is seeking approval from SEBON to issue 35% right shares of worth Rs 22.44 crore. After adjustment of right shares, its paid up capital will reach to Rs 86.58 crore.To meet the capital requirement of Rs 1 arba as directed by Insurance Board, it needs to hike its capital by Rs 13.42 crore (around 15.58%). Likewise, it has paid claim of Rs 46.38 crore. Its earning per share stands at Rs 13.69 (annualized EPS = Rs 27.38), net worth per share at Rs 192.73 and P/E ratio at 77.41 times.