Himalayan Reinsurance Earns Rs. 25.44 Crores Upto Third Quarter of FY 079/80; Annualized EPS At Rs. 4.85
Tue, Jun 13, 2023 11:26 AM on Latest,
Himalayan Reinsurance Limited (HRL) has published its third quarter for the ongoing financial year 2079/80 with a Net Profit of Rs. 25.44 crores. Up to the corresponding quarter of the previous fiscal year, the company had earned Rs. 19.64 crores.
The company has increased its Net Premium by a massive 612.61%, which amounts to Rs. 3.38 Arba up to Q3 of the current fiscal year.
The reinsurance company has Rs. 13.69 crores in the Insurance fund and Rs. 1.50 crores in Contingent Fund.
The income of the company from investments, loans and other sources has increased amounting to Rs. 15.75 crores up to the third quarter of current financial year.
The annualized Earnings per Share (EPS) ratio of the company stands at Rs. 4.85 while has a Net Worth per Share of Rs. 107.47.
HRL maintains a paid-up capital of Rs. 7 Arba and has Rs. 38.58 crores in the form of Reserve and Surplus.
About the company:
Himalayan Reinsurance is the first private sector reinsurance company established in the Republic of Nepal. The company offers Reinsurance support to Life and General Insurance Companies in Nepal and overseas.
Promoters of Himalayan Reinsurance include leading business houses of Nepal, along with leading financial institutions of the country. Prominent Promoters include;
- Golchha Group
- Shanker Group
- Infinity Holdings
- Lucky Group
- Ramesh Corp
- Shiv Shakti Group
- Himalayan Infrastructure Fund Ltd.
- Shalimar Investment
- Saffron CK Investments
- Vaishnav Enterprises
- Murarka Group
- K L Dugar Group
- M V Dugar Group
- R H Group
- M S Corp
- IME Group
- Prem Gurung and Group
- Ashlesha Enterprises
- Allied Continental
- Balaji Marbles
Apart from these business houses, the Promoters include 2 of the topmost commercial banks of Nepal, which are primarily owned by the Govt of Nepal, which is Nepal Bank Limited and Rastriya Banijya Bank Limited.
Major Financial Highlights:
| Particulars (In Rs '000) | Himalayan Re-insurance Limited | ||
|---|---|---|---|
| Q3 2079/80 | Q3 2078/79 | Difference | |
| Paid Up Capital | 7,000,000.00 | 7,000,000.00 | 0.00% |
| Reserve and Surplus | 385,831.47 | 200,604.29 | 92.33% |
| Insurance Fund | 136,978.12 | 4,819.27 | - |
| Contingent Fund | 15,059.29 | 460.74 | - |
| Net Premium | 3,384,624.56 | 474,964.81 | 612.61% |
| Income from Investment, Loan and others | 157,594.88 | 20,176.38 | 681.09% |
| Claim Payment (Net) | 247,261.50 | 14,609.60 | - |
| Net Profit | 254,444.53 | 196,457.59 | 29.52% |
| Annualized EPS (In Rs.) | 4.85 | 5.61 | -13.66% |
| Net Worth per Share (In Rs.) | 107.47 | 102.93 | 4.40% |
