Shikhar Insurance’s Net Profit Increases by 15%

Nov 17, 2019 10:24 AM Merolagani

Shikhar Insurance (SICL) has increased its net profit by 14.85 percent to Rs 121.4 million in the first quarter of the current FY compared to Rs 105.7 million of the corresponding period of the last FY.

The company maintained EPS of Rs 45.09 during the period which was Rs 39.99 in the review period of the last FY. Similarly, it logged net worth per share of Rs 261.06 and P/E ratio of 15.78 times.

In the review period, the company earned net insurance premium of Rs 458.3 million compared to Rs 458 million of the last FY.

The company earned Rs 128.7 million in reinsurance commission and  Rs 52.7 million from investment, loan and other income.

The company with Rs 1.05 billion in paid-up capital has reserve fund of Rs 517.7 million, insurance fund of Rs 1.18 billion and disaster fund of Rs 73.3 million.

During the period, the company issued 94,707 insurance policies and earned Rs 920.6 million in total insurance premium. The insurance paid Rs 418.1 million to 3,590 claims and has outstanding premium of Rs 898.1 million to 4,297 claims.

comments powered by Disqus

Sita Air to operate flights from Bhadrapur, Biratnagar to Suketar, Lamidanda

Dec 11, 2019 02:06 PM

Sita Air is set to operate flights from Bhadrapur and Biratnagar to Suketar and Lamidanda from December 15. This initiative of Sita Air targets the Visit Nepal Year, 2020, and is expected to help attract hundreds of tourists to Pathivara Temple, a tourist destination, said managing director of Sita Air, Rajendra Bahadur Singh.

NMB Bank Calls Out AGM

Dec 11, 2019 01:01 PM