Net profit of Sagarmatha Insurance decreased by 57%

Kathmandu February 14- Private sector general insurance company Sagarmatha Insurance Company limited's net profit has decreased by 57.33% to Rs. 32.2 million in the second quarter of current FY which was Rs. 75.8 million in the corresponding period of previous FY.

Functioning with 350 million paid up capital, company has maintained balance of Rs. 189.9 million in its reserve fund. Company has earned Rs. 226.6 million insurance premium in this period which is 10.31% less than the corresponding period that was Rs. 252.1 million. Company has paid Rs. 257.4 million claim amount during the period which was Rs. 77.6 million last year. Company income however has decreased by 55.28% to Rs. 55.1 million and expenses has decreased by 52.17% to Rs. 22.9 million.

Company has issued 20,536 insurance policies which is less by 3, 588 of last year. Company has paid on 2, 541 claims during the period.

EPS of the company is Rs. 9.04, net worth per share is Rs. 243.11, liquidity ratio is 1.21 times and P/E ratio of 105.29 times.