Himalayan Reinsurance Limited (HRL) has released its third-quarter financial report for the ongoing fiscal year 2079/80, showcasing a net profit of Rs. 25.44 crores. This marks an increase compared to the corresponding quarter of the previous fiscal year when the company earned Rs. 19.64 crores.
Notably, HRL has experienced a significant surge in net premium, which has grown by a remarkable 612.61%. The net premium now amounts to Rs. 3.38 Arba as of Q3 of the current fiscal year.
In terms of its financial reserves, HRL holds Rs. 13.69 crores in the insurance fund and Rs. 1.50 crores in the contingent fund.
Furthermore, the company’s income from investments, loans, and other sources has witnessed growth, reaching Rs. 15.75 crores by the end of the third quarter of the current financial year.
The annualized earnings per share (EPS) ratio of HRL stands at Rs. 4.85, reflecting its profitability, while the net worth per share is reported as Rs. 107.47.
HRL maintains a paid-up capital of Rs. 7 Arba and has accumulated a reserve and surplus of Rs. 38.58 crores.
These positive financial results demonstrate HRL’s strong performance and stability in the reinsurance sector, highlighting its ability to generate substantial profits and maintain a healthy financial position.