Shikhar Insurance Increases Net Profit by 10%

May 13, 2021 01:40 PM Merolagani

Shikhar Insurance (SICL) has increased its net profit by 10.26 percent to Rs 363.3 million in the third quarter of the current FY compared to Rs 329.5 million of the corresponding period of the last FY.

During the period, the company increased its net insurance premium by 11.97 percent to Rs 1.08 billion compared to Rs 966.8 million of the last FY.

In the review period, it earned Rs 464.9 million from reinsurance commission and  Rs 133.5 million from investment, loan and other.

The company that has Rs 1.75 billion in paid-up capital has reserve fund of Rs 617.6 million, catastrophe fund of Rs 94.3 million and insurance fund of Rs 1.23 billion.

By the review period, it issued 211,996 policies and has earned Rs 2.96 billion in total insurance premium. Moreover, it paid Rs 1.73 billion to 16,914 claims and has outstanding payment of Rs 1.42 billion to 9,286 claims.

The company has EPS of Rs 27.55, net worth of Rs 210.94 and P/E ratio of 68.74 times.

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