Profit increases for SIL, SICL and NICL in the third quarter; EPS at Rs 37.50, Rs 39.66 and Rs 30.15 respectively

Siddhartha Insurance Limited (SIL) has stated growth in its net profit by 28.81% in the third quarter of the ongoing fiscal year 2074/75.

Publishing the financial report, it stated net profit of Rs 18.04 crore in Q3 of the FY 2074/75, up from Rs 14 crore in the corresponding quarter of the FY 2073/74.

While its income from net premium has also increased from Rs 53.55 crore to Rs 65.67 crore at the end of Q3 this year, its income from reinsurance commission has increased to Rs 16.73 crore.

Its current paid up capital stands at Rs 64.14 crore with reserve fund of Rs 12.07 crore and insurance fund of Rs 50.29 crore.

After the issuance of 35% right share its paid up capital will reach Rs 86.58 crore. As per the new guideline, non-life insurance companies should have a minimum paid up capital of Rs 1 arba by the end of FY 2074/75 and SIL will meet the requirement after issuance of bonus and right share.

Its annualized earning per share stands at Rs 37.50, net worth per share at Rs 207.16 and P/E ratio at 22.24 times.

Shikhar Insurance Company (SICL) has stated rise in net profit by 16.41% in the third quarter of the FY 2074/75.

As per the unaudited report for the third quarter, the insurance company reported net profit of Rs 31.01 crore in Q3 of fiscal year 2074/75, up from Rs 26.63 crore of the corresponding fiscal year. Its paid up capital stands at rs 1.05 arba.

The company’s earnings from premium increased to Rs 1.22 arba in Q3 from Rs 1.14 arba in the corresponding quarter.

The reserve fund of the company has declined to Rs 18.20 crore from the corresponding year’s Rs 24.63 crore. The company’s insurance fund has also increased to Rs 79.04 crore from Rs 59.15 crore in the corresponding quarter of the previous year.

Its annualized EPS stands at Rs 39.66 while its PE ratio is at 25.54. The net worth per share of the company amounts to Rs 196.97.

Nepal Insurance Company (NICL) has stated rise in net profit by 34.34% in the third quarter of the FY 2074/75.

As per the unaudited report for the third quarter, the insurance company reported net profit of Rs 6.82 crore in Q3 of fiscal year 2074/75, up from Rs 5.08 crore of the corresponding fiscal year.

The company’s earnings from premium increased to Rs 30.71 crore in Q3 from Rs 22.63 crore in the corresponding quarter. Its paid up capital stands at Rs 30.19 crore.

The reserve fund of the company has also increased to Rs 17.94 crore from the corresponding year’s Rs 14.07 crore. The company’s insurance fund has also increased to Rs 16.99 crore from Rs 10.65 crore in the corresponding quarter of the previous year.

Its EPS stands at Rs 30.15 while its net worth per share of the company amounts to Rs 205.91.