Siddhartha Insurance’s Net Profit Declines Despite Increase In Premium Collection

Nov 17, 2022 12:40 PM Merolagani

Siddhartha Insurance (SIL) has earned a net profit of Rs 51.2 million in the first quarter of the current FY. The net profit declined by 5.65 percent compared to Rs 54.3 million of the corresponding period of the last FY.

During the period, the company collected 398.2 million in net insurance premium. The net insurance premium grew by 30.15 percent compared to Rs 305.9 million of the review period of the previous FY.

It earned Rs 93.5 million from reinsurance commission and Rs 36.1 million from investment, loans and other sources.

The company with Rs 1.28 billion in paid-up capital has reserve fund of Rs 242.7 million, insurance fund of Rs 1.20 billion and disaster fund of Rs 97.6 million.

The company logged EPS of Rs 15.92, net worth per share of Rs 220.36 and P/E ratio of 34.14 times.

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