Shikhar Insurance Reports Modest Profit Growth in First Quarter

Kathmandu – Shikhar Insurance Company Limited has released its financial statement for the first quarter of the current fiscal year, showing a 2.5% increase in net profit compared to the same period last year.

The company’s profit has risen from Rs. 112.4 million in the first quarter of last year to Rs. 115.2 million in the current year. As a result, earnings per share (EPS) have also increased, rising from Rs. 16.94 to Rs. 17.36.

Shikhar Insurance, which has a paid-up capital of Rs. 2.65 billion, has made significant strides in strengthening its financial reserves. The company has accumulated Rs. 356.1 million in its reserve fund, Rs. 145.7 million in the disaster fund, and Rs. 1.76 billion in a special reserve.

In terms of premium income, Shikhar Insurance earned Rs. 551.7 million in the first quarter of the current year. The company’s net insurance premiums grew from Rs. 277.8 million in the same period last year to Rs. 282.22 million this year, reflecting positive growth in its core business.

The company’s net worth per share stands at Rs. 209.62, highlighting its strong financial foundation.