Sagarmatha Insurance Logs Increase in Net Profit despite Decline in Premium Collection

Feb 12, 2023 01:10 PM Merolagani

Sagarmatha Insurance (SIC) has earned a net profit of Rs 179.3 million in the second quarter of the current FY.

The net profit increased by 0.93 percent compared to Rs 177.7 million of the corresponding period of the last FY.

During the period, the company collected net insurance premium of Rs 726.9 million in the review period. The net insurance premium decreased by 6.60 percent compared to Rs 778.3 million of the corresponding period of the last FY.

Moreover, the company earned Rs 167 million from reinsurance commission and Rs 59.7 million from investment, loans and other income.

 The company with Rs 2.33 billion in paid-up capital has reserve fund of Rs 502.6 million and an insurance fund of Rs 1.29 billion.

The company logged EPS of Rs 26.90, net worth per share of Rs 244.05 and P/E ratio of 32.35 times.

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