Shikhar, Siddartha and Lumbini insurance post impressive profit; NLG reports modest growth

ShareSansar, August 17:

Among the non-life insurers, Shikhar, Siddhartha and Lumbini General Insurance have posted impressive profit growth while NLG Insurance Company Limited has posted modest profit rise by the end of the fourth quarter of 2070/71.

All the other non-insurance companies, which have published their Q4 financial reports so far, have come up with net profit growth.

Shikhar has reported net profit of Rs 13.15 crore by the end of the fourth quarter, up from Rs 8.24 crore at the end of the corresponding quarter. It may still be noted that the figure for the last fiscal year is unaudited one while that of the previous fiscal year is audited.

More than anything else, Shikhar’s net profit was fuelled by its core business which has risen to Rs 21.94 crore, up from Rs 15.06 crore.

Its EPS now stands at Rs 44.18, the P/E ratio at 21.28 times and the net worth per share at Rs 197.94.

Similarly, Siddhartha has posted massive net profit growth – from Rs 4.27 crore to Rs 12.66 crore.

Siddhartha’s core business led to the growth as its income rose to Rs 19.44 crore from Rs 10.27 crore while its expenses increased merely to Rs 6.78 crore up from Rs 6 crore.

Siddhartha’s EPS stands at Rs 50.48, the P/E ratio at 15.85 times and the net worth per share at Rs 197.28.

Likewise, Lumbini General Insurance has registered an impressive net profit rise – from Rs 3.82 crore to Rs 7.48 crore.

Its income almost doubled in the last fiscal year from Rs 6.97 crore to Rs 12.48 crore.

Lumbini’s EPS now stands at Rs 28.19, the P/E ratio at 20.92 and the net worth per share at Rs 153.70.

On the other hand, NLG Insurnace’s profit growth a modest profit growth by the fourth quarter as the net profit inched to Rs 15.71 crore down from Rs 15.21 crore at the end of the corresponding quarter.

The profit was stout as its income has fallen to Rs 25.92 crore, down from Rs 26.05 crore.

NLG still managed to post a modest growth largely due to its reduced expenses – down to Rs 10.20 crore from Rs 10.83 crore.

Its EPS now stands at Rs 52.91, the P/E ratio at 16 times and the net worth per share at Rs 229.