Shikhar Insurance Company Limited (SICL) Reports Plain Growth
Shikhar Insurance Company (SICL) has posted a net profit of Rs 133.6 million in the first quarter of the current FY, up 9.28 percent from Rs 122.3 million in the corresponding period of last FY.
There was a 2.53 percent increase in its net insurance premium to Rs 445 million during the period. The company earned Rs 52.4 million in investment loans and other income and Rs 159.5 million in reinsurance commissions during the review period.
With a paid up capital of Rs 1.75 billion, the company has Rs 638.8 million in reserve funds, Rs 95.7 million in share premium funds, Rs 1.36 billion in insurance funds and Rs 132.3 million in catastrophic funds.
Unfortunately, the failure to increase net profit proportionate to paid-up capital has lowered its earnings per share to Rs 30.40 from Rs 35.50 in the previous fiscal year.
EPS for the company was Rs 226.76 and P/E ratio was 56.91.
In this period, the company paid Rs 472.7 million to 3,614 claims and has an outstanding payment of Rs 2.14 billion to 12,387 claims.