Himalayan General Insurance AGM on May 8 to appoint six directors

ShareSansar, April 15:

Himalayan General Insurance Company Limited has announced its 20th Annual General Meeting on May 8.

The AGM to be held at the Trade Tower, Thapathali is expected to restructure its board of directors to appoint six directors – three from among the promoters, two public directors and an independent director, according to a notice issued by the company today.

Sadly, however, the company could not propose any dividend to the shareholders from the last fiscal year 2069/70.

It may be noted that Himalayan Insurance has been reporting good profit in the current fiscal year 2070/71.

It reported a profit rise of 52 percent in the second quarter of the current fiscal.

As per the unaudited quarterly report, its net profit has risen to Rs 3.37 crore in the second quarter, up from Rs 2.22 crore in the corresponding quarter of the last fiscal year.

The profit is attributable to the insurer’s operational profit, which surged to Rs 5.64, up from Rs 3.77 crore in the corresponding quarter. The growth is also remarkable if we see the profit it posted in the first quarter of the current fiscal, which stood at just Rs 3.03 crore.

Its EPS has reached Rs 33.48 and its net worth per share stands at Rs 237.54.

Notably, the insurer’s paid-up has also risen to 23.98 crore, up from just Rs 1.69 crore in the corresponding quarter though its reserve remains unchanged at Rs 10.08 crore.