Siddhartha Premier Insurance Reports Slight Profit Decline in Q3, Insurance Fund Increase by 50.71% 

Kathmandu — Siddhartha Premier Insurance has published its financial report for the third quarter of the current fiscal year 2081/82, revealing a slight decline in profit.

According to the company’s disclosure, it recorded a net profit of Rs 453.6 million in the first nine months of the fiscal year, marking a 24.03 percent decrease compared to Rs 597.1 million earned in the same period last year.

Despite the drop in profit, the company’s insurance fund saw a notable increase of 50.71 percent, rising from Rs 4.95 billion to Rs 7.47 billion by end of Chaitra of the current fiscal year.

Siddhartha Premier’s income remained largely stable, with a marginal growth of 0.08 percent with Rs 2.15 billion. However, total expenses rose significantly by 17.16 percent, reaching Rs 1.52 billion.

As of the review period, the company’s paid-up capital stands at Rs 2.80 billion. The company’s disaster fund increased by 12.05 percent to Rs 210.9 million, while the retained earning declined by 37.76 percent to Rs 684.8 million.

Earnings per share (EPS) during the period reached Rs 21.55, and net worth per share stood at an impressive Rs 263.72.