Shikhar Insurance Reports Strong Financial Growth in Q2, Profit Rises by 2.48%

Kathmandu – Shikhar Insurance Company Limited has reported significant growth in key financial indicators in the second quarter of the current fiscal year. The company’s recently published financial statements show improvements in profit, insurance fund size, and premium income.

During the first six months of the fiscal year, Shikhar Insurance earned a net profit of Rs 257.3 million, marking a 2.48% increase from Rs 251.1 million recorded in the same period last year. The company’s insurance fund also saw a substantial rise of 38.93%, reaching Rs 7.35 billion from Rs 5.294 billion at the end of the previous fiscal year.

Additionally, net insurance premium income grew by 15.63% to Rs 637.6 million, up from Rs 551.4 million last year. However, total claim payments also increased by 17.56%, amounting to Rs 382.6 million.

The company’s reserve fund expanded by 9.32%, further strengthening its financial stability. With a paid-up capital of Rs 2.65 billion, Shikhar Insurance’s earnings per share (EPS) have reached Rs 19.39, while its net worth per share now stands at Rs 212.11.