November 19, 2020 | Investopaper
Sagarmatha Insurance Company Limited (SIC), one of the leading non-life insurance company of Nepal, has reported profit growth of 10.76 percent in the first quarter of the fiscal year 2077/78. The insurance earned a net profit of Rs. 5.56 crores until the first quarter, which stood at Rs. 5.02 crores in the corresponding period of the previous year.
In the 3 months period, Sagarmatha insurance has collected a total premium of Rs. 73.62 crores, a rise of almost 8.76 percent from the last year. The net premium stood at Rs. 35.91 crores. During this period, the net claim slightly increased to Rs. 13.07 crores.
As of Ashwin end 2077, Sagarmatha insurance has a paid-up capital of Rs 100.12 crores with Rs 55.21 crores in reserve and surplus. Likewise, the insurance fund stands at Rs. 65.93 crores.
The Insurance has increased its investment portfolio (short term & long term investments) to Rs. 294.93 crores. In the three months period, the company has sold 50,824 policies which is 15.73 percent higher than the same period of the previous year.
The unaudited first-quarter report of Sagarmatha Insurance is summarized in the table below:
Sagarmatha Insurance First Quarter Report Summary, FY 2077/78
|Financial Indicators||1st Qtr, 2077/78||1st Qtr, 2076/77||Percent Change|
|Paid-up Capital (Rs. ‘crores’)||100.12||100.12||0.00|
|Reserve & Surplus (Rs. ‘crores’)||55.21||39.34||40.34|
|Insurance Fund (Rs. ‘crores’)||65.93||48.88||34.88|
|Total Investments (Rs. ‘crores’)||294.93||286.06||3.10|
|Total Premium (Rs. ‘crores’)||73.62||67.69||8.76|
|Net Premium (Rs. ‘crores’)||35.81||32.49||10.22|
|Net Claim (Rs. ‘crores’)||13.07||12.91||1.24|
|Total Outstanding Claim (Rs. ‘crores’)||92.05||105.85||-13.04|
|Net Profit (Rs. ‘crores’)||5.56||5.02||10.76|
|Management Expenses (Rs. ‘crores’)||6.83||6.99||-2.29|
|Number Of Policies||50,824||43,916||15.73|
|Earnings Per Share (Rs.)||22.23|
|Networth Per Share (Rs.)||234.44|
|Market Price Per Share (Rs.) [Ashwin end, 2077]||897|
The above figures are based on the un-audited quarterly report published by the respective company. Investors are advised to take other things into consideration along with this report while making investment decisions. The numbers may vary after the final audit.
The share price, as well as the P/E ratio, is based on the data of Ashwin end, 2077. At current, the numbers may vary.
Note: If you want to see the reports of other companies, Click Here.