Kathmandu. Himalayan Everest Insurance has released the revised financial statements for the third quarter of the current fiscal year (July-April).
According to the financial statement, the company has earned a profit of Rs 332.3 million till the third quarter. The company had posted a net profit of Rs 606.5 million in the same period of the previous fiscal year. Compared to the previous fiscal year, the company’s profit decreased by 45.20 percent in the review period.
As of the third quarter of the current fiscal year, the company has rs 1.83 billion in special reserves, Rs 78.2 million in disaster fund, Rs 240.5 million in retained earnings and Rs 384.1 million in other equities. As of Mid-July last year, rs 1.66 billion was in special reserves, Rs 69.9 million in disaster fund, Rs 304.7 million in retained earnings and Rs 383.8 million in other equities.
As of the review period, the company’s insurance fund stood at Rs 3.53 billion. The insurance fund stood at Rs 3.99 billion as of Mid-July last year. The size of the company’s insurance fund decreased by 11.55 percent in the review period compared to the previous year.
Till the third quarter, the company has earned a total insurance premium of Rs 2.86 billion. In the same period of the previous fiscal year, the company had earned a total insurance premium of Rs 2.16 billion. Compared to the same period of the previous fiscal year, the company’s total insurance revenue has increased by 32.01 percent.
The company has earned a net insurance premium of Rs 1.24 billion during the review period. In the same period of the previous fiscal year, the company had earned a net insurance premium of Rs 836.4 million. Net insurance premium has increased by 48.26 percent compared to the previous year.
The company’s annualised earnings per share (EPS) has come down to Rs 13.29 from Rs 2.5 billion. Last year, the EPS was Rs 32.35. The company has a net worth of Rs 201.46 per share with a PE ratio of 33.39 times.
