Siddhartha & Premier Insurance registers profit growth of Rs 3.80 crore & Rs 2.04 crore respectively in Q1

Siddhartha Insurance Company Limited (SIL) has reported a profit growth of 32.23 percent in the first quarter of the current fiscal year 2073/74. According to the unaudited financial report for the first quarter of the non-life insurance company published today, its net profit increased to Rs. 3.80 crore in first quarter as compared to Rs. 2.87 crore in the corresponding quarter of the last fiscal year 2072/73. The company’s net earnings from premium has risen to Rs 21.74 crore in Q1 from Rs. 14.78 crore in the same quarter last year. The insurance company has paid up capital of Rs 34.48 crore. Its reserve fund has reached to Rs 16.50 crore, up from Rs. 14.08 crore in the previous fiscal year. The company’s policy holder has increased to 30,696 in Q1 from 21,315 reported in the same period of last year. Annualized Earning per Share (EPS) of Siddhartha Insurance remains at Rs 44.12, net worth per share is at Rs 254.03 and P/E ratio at 226.65 times. Recently, Siddhartha Insurance had proposed 30 percent bonus share to its shareholders from the net profit it earned in the last fiscal year 2072/73. Likewise, Premier Insurance Company Limited (PIC) has reported a profit growth of 50.74 percent in the first quarter of the current fiscal year 2073/74. As  per the unaudited financial report of the first quarter the non-life insurer today, its net profit increased to Rs. 2.04 crore in first quarter as compared to Rs. 1.35 crore in the corresponding quarter of the last fiscal year 2072/73. The company’s net earnings from premium has risen to Rs 19.04 crore in Q1 from Rs. 9.51 crore in the same quarter last year. The insurance company has paid up capital of Rs 37.37 crore. Its reserve fund has declined to Rs 12.32 crore in Q1, from Rs. 17.20 crore in the corresponding quarter of previous fiscal year. The company’s policy holder has increased to 36,130 in Q1 from 17,868 reported in the same period of last year. Annualized Earning per Share (EPS) of Premier Insurance remains at Rs 19.83, net worth per share is at Rs 204.77, P/E ratio at 116.22 times. Recently, Premier Insurnce has proposed 20 percent bonus share to its shareholders from the net profit it earned in the last fiscal year 2072/73.