Shikhar Insurance reserve rises by whopping 269.33% to Rs 45.94 crore in Q4; Policy holder grew to 2.28 lakh

Shikhar Insurance Company Limited (SICL) has reported a profit growth of 41.27 percent in the fourth quarter of the last fiscal year 2072/73. According to the unaudited financial report for the fourth quarter the non-life insurer has published today, its net profit increases to Rs. 31.02 crore in fourth quarter as compared to Rs. 21.96 crore in the corresponding quarter of the last fiscal year 2071/72. The company’s net earnings from premium grew to Rs 1.02 arba in Q4 from Rs. 64.37 crore in the same quarter last year. The insurance company has paid up capital of Rs 50.98 crore and has Rs 46.11 crore in Insurance fund. The positive aspect of Shikhar’s financial report for the fourth quarter is that its reserve fund has reached Rs 45.94 crore, up from Rs. 12.44 crore in the previous fiscal year. The reserve fund of the company increased by 269.33% The company has collected huge amount in insurance premium which helps for increment in net profit. As shikhar insurance had issued FPO at Rs 550 premium price which help to increase its reserve. SICL policy holder has drastically increased to 2.28 lakh in Q4 from 1.55 lakhreported in the same period of last year. Its earning per share (EPS) stand at Rs 64.06, Price Earning (P/E) ratio is at 53.4 times and net worth per share at Rs. 282.61.