Siddhartha Insurance’s profit more than doubles in third quarter

ShareSansar, May 4:

Siddhartha Insurance Limited’s net profit has risen massively by 116 percent in the third quarter of the current fiscal year 2070/71.

According to the unaudited financial report published by non-life insurance company today, it has posted a net profit of Rs 8.23 crore from Rs 3.81 crore in the corresponding quarter of the last fiscal year 2069/70.

Its overall income has increased drastically from Rs 43.65 crore in the third quarter of the last fiscal year to Rs 59.83 crore by the end of the third quarter this year—largely due to rise in policy fee from Rs 20.51 crore to Rs 26.91.

By the end of third quarter, its expenses rose to Rs 51.18 crore from Rs 38.10 crore.

Its EPS is now priced at Rs 32.83 while net worth per share stands at 179.59, and its P/E ratio is 16.75 times.

Siddhartha’s reserve has now risen to Rs 9.52 crore from Rs 5.54 crore, and the insurance fund, too, has surged to Rs 10.43 crore from Rs 6.53 crore.