Lumbini General and Shikhar Insurance net profit mounts by 121.41% & 46.60% respectively

Lumbini General Insurance Company Limited (LGIL) has reported a massive profit growth of 121.41percent in the first quarter of the current fiscal year 2072/73. In the unaudited fourth quarterly financial report published today, the non-life insurance company has stated its net profit surged to Rs.2.08 crore in first quarter as compared to Rs. 94.14 lakhs in the corresponding quarter of the last fiscal year 2071/72. The company’s net earnings from premiums went down to Rs.10.90 crore in Q1 from Rs.11.19 crore in the corresponding quarter. LGIL managed to increase its policy holders to Rs.29.47 thousand in Q1 from Rs.26.38 thousand in the previous year report. LGIL paid up capital remains at Rs.29.18 crore. Its reserve fund has risen to Rs.4.37 crore in the first quarter report up from Rs.4.04 crore in the corresponding year. The company’s Earning per Share (EPS) stand at Rs.28.57, P/E ratio to 13.23 times and net worth per share at Rs. 162.95. Shikhar Insurance Company Limited (SICL) has reported a profit growth of 46.60 percent in the first quarter of the current fiscal year 2072/73. According to the unaudited financial report for the first quarter the non-life insurer has published today, its net profit increases to Rs.4.23 crore in first quarter as compared to Rs.2.91 crore in the corresponding quarter of the last fiscal year 2071/72. The company’s net earnings from premium has risen to Rs.17.51 crore in Q1 from Rs.11.76 crore in the same quarter last year. The insurance company has paid up capital of Rs.35.76 crore. The most encouraging aspect of Shikhar’s financial report for the first quarter is that its reserve fund has reached 15.67 crore, up from Rs.10.93 crore in the previous fiscal year. Their policy holder has drastically increased to 41.12 thousand in Q1 from 30.08 thousand reported in the same period of last year. Annualised EPS stand at Rs.47.35, P/E ratio is at 18.67 times and net worth per share at Rs.239.19.