Shikhar Insurance Reports First Quarter Financial Results

Kathmandu – Shikhar Insurance Company Limited has released its financial statements for the first quarter of the current fiscal year, highlighting growth in key business indicators.

During the first three months of the fiscal year, the company’s net insurance premium increased by 3.02 percent, reaching Rs 290.7 million, up from Rs 282.2 million in the same period last year. The company’s life insurance fund also saw strong growth, rising 46 percent from Rs 5.884 billion to Rs 8.591 billion.

Meanwhile, total income was reported at Rs 539 million, slightly lower than Rs 551.7 million in the previous fiscal year, while total expenses increased to Rs 765.5 million.

Shikhar Insurance maintains a paid-up capital of Rs 2.92 billion, a special reserve of Rs 1.936 billion, a disaster fund of Rs 163 million, and a reserve fund of Rs 67.7 billion. The company’s net worth per share is Rs 192.63, while earnings per share (EPS) stood at Rs -21.70 for the period.