Business remains fairly stable for Sagarmatha Insurance in Q1; Reports a growth of 8.75% in Gross premium
Thu, Nov 19, 2020 8:31 AM on Latest, Company Analysis,
Sagarmatha Insurance Company Limited (SIC) has published its first-quarter report of the fiscal year 2077/2078 with an increase in Net Profit by 10.92% compared to the corresponding quarter of the previous year. The company’s net earnings increased to Rs. 5.56 crores in this quarter from Rs. 5.01 crores in the corresponding quarter.
As per the unaudited report for the first quarter published today, Sagarmatha Insurance has a paid-up capital of Rs. 1.00 Arba with a reserve of Rs. 55.20 crores. Similarly, the company has Rs. 13.47 crores as a contingent fund. The company has an insurance fund of Rs. 65.92 crores.
For this quarter the company seems to have reported fair growth in business and profitability; Net premium increased by 10.22% while net profit increased by 10.92%.
The company had a net claim payment of Rs. 13.06 crores which was Rs. 12.90 crores in the corresponding quarter of the previous year; an increment of 1.26%.
Its annualized earnings per share (EPS) stood at Rs. 22.23 whereas Net worth per share stood at Rs. 234.44. The company traded at a P/B multiple of 3.84 times.
Major Highlights:
|
Particulars |
Sagarmatha Insurance Company Limited |
||
|---|---|---|---|
|
Q1, 2077/2078 |
Q1, 2076/2077 |
Difference |
|
|
Paid-Up Capital |
1,001,223.00 |
1,001,223.00 |
- |
|
Reserve & Surplus |
552,075.00 |
393,352.00 |
40.35% |
|
Insurance Fund |
659,260.00 |
488,791.00 |
34.88% |
|
Contingent Fund |
134,754.00 |
80,770.00 |
66.84% |
|
Gross Premium |
736,177.00 |
676,933.00 |
8.75% |
|
Net Premium |
358,134.00 |
324,923.00 |
10.22% |
|
Re-Insurance Commission Income |
71,630.00 |
81,747 |
-12.38% |
|
Income from Investment, Loan and others |
19,345.00 |
24,084.00 |
-19.68% |
|
Claim Payment (Net) |
130,698.00 |
129,074.00 |
1.26% |
|
Agent Commission |
11,735.00 |
11,640.00 |
0.82% |
|
Gross Profit |
59,304.00 |
51,125.00 |
16.00% |
|
Net Profit |
55,649.00 |
50,172.00 |
10.92% |
|
No. of Policies |
78,042 |
68,455 |
14.00% |
|
Annualized EPS (In Rs.) |
22.23 |
20.04 |
10.92% |
|
Net Worth per share (In Rs.) |
234.44 |
139.29 |
68.32% |
|
Price/Book ratio |
3.83 |
- |
- |
.png)
