Net Profit of Sagarmatha Insurance Increases by 64%

May 05, 2021 12:41 PM Merolagani

The net profit of Sagarmatha Insurance (SIC) has increased by 63.94 percent in the third quarter of the current FY. The company has earned Rs 285.4 million in net profit compared to Rs 174.1 million of the corresponding period of the last FY.

Similarly, its net insurance premium also increased by 28.14 percent to Rs 952.9 million compared to Rs 743.6 million of the last FY.

The company with Rs 1.12 billion in paid-up capital has reserve fund of Rs 483.4 million, insurance fund of Rs 956.6 million and disaster fund of Rs 128 million.

The company has EPS of Rs 38.02, net worth per share of Rs 256.63 and P/E ratio of 45.25 times.

During the period, the company issued 136,696 insurance policies and earned a total of Rs 1.99 billion in total insurance premium. The company paid Rs 806.7 million to 8,032 policies and has outstanding payment of Rs 1.18 billion to 6,541 claims.

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