Himalayan General Insurance profit rises by 25% despite provisioning Rs 26 crore

Kathmandu, feb 10 – Himalayan General Insurance Company Limited has reported a profit rise of 52 percent in the second quarter of the current fiscal year 2070/71.

 

As per the unaudited quarterly report published by the insurer today, its net profit has risen to Rs 3.37 crore in the second quarter, up from Rs 2.22 crore in the corresponding quarter of the last fiscal year.

 

The profit is attributable to the insurer’s operational profit, which surged to Rs 5.64, up from Rs 3.77 crore in the corresponding quarter. The growth is also remarkable if we see the profit it posted in the first quarter of the current fiscal, which stood at just Rs 3.03 crore.

 

Himalayan General Insurance has reported the profit rise even after provisioning 10.12 crore for unsettled claims and Rs 15.97 crore for risk.

 

Its EPS has now reached Rs 33.48 and its net worth per share stands at Rs 237.54.

 

Notably, the insurer’s paid-up has also risen to 23.98 crore, up from just Rs 1.69 crore in the corresponding quarter though its reserve remains unchanged at Rs 10.08 crore.

 

sharesansar