Himalayan Everest Insurance Logs 0.32% Growth in Profit

Feb 10, 2023 03:39 PM Merolagani

Himalayan Everest Insurance (HEI), the joint entity of Himalayan  General Insurance and Everest Insurance, has earned a net profit of Rs 112.5 million in the second quarter of the current FY.

The net profit increased by merely 0.32 percent compared to Rs 122.2 million of the corresponding period of the last FY.

In the review period, it earned net insurance premium of Rs 591.9 million compared to RS 453.4 million of the last FY.

Similarly, it earned Rs 39.6 million from investment, loans and other income and Rs 174.5 million from reinsurance premium.

After the merger, the company has Rs 2.23 billion in paid-up capital has reserve fund of Rs 662 million, insurance fund of Rs 1.15 billion and catastrophic fund of Rs 51 million.

The company maintained EPS of Rs 10.05, net worth per share of Rs 183.21 and P/E ratio of 44.93 times.

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