Shikhar Insurance Company Limited (SICL) has published a report showing the profit growth of 41.27 percent in the 4th quarter of fiscal year 2072/73. Analyzing the unaudited financial report for the fourth quarter the non-life insurer has published today, its net profit increased to Rs. 31.02 crore as compared to Rs. 21.96 crore in the corresponding quarter of previous fiscal year 2071/72.
The Shikha Insurance company’s net earnings from premium grew to Rs 1.02 arba in Q4 from Rs. 64.37 crore in the same quarter last year. The insurance company has paid up capital of Rs 50.98 crore and has Rs. 46.11 crore in Insurance fund. The positive aspect of Shikhar Insurance company’s financial report for the 4th quarter is that its reserve and surplus fund has reached to Rs 45.94 crore, up from Rs. 12.44 crore in the previous fiscal year. The reserve and surplus fund of the company increased massively by 269.33%
The company has collected huge amount in insurance premium which helps for increment in net profit. As shikhar insurance had issued FPO at Rs 550 premium price which help to increase its reserve. SICL policy holder has drastically increased to 2.28 lakh in Q4 from 1.55 lakhreported in the same period of last year. Its earning per share (EPS) stand at Rs 64.06, Price Earning (P/E) ratio is at 53.4 times and net worth per share at Rs. 282.61.