{"id":15141,"date":"2020-08-14T21:35:05","date_gmt":"2020-08-14T21:35:05","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=15141"},"modified":"2020-08-14T21:35:05","modified_gmt":"2020-08-14T21:35:05","slug":"new-india-assurance-company-q1fy21-net-profit-rises-by-3-yoy","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=15141","title":{"rendered":"New India Assurance Company Q1FY21; net profit rises by 3% yoy"},"content":{"rendered":"

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\n\t\"Quarterly<\/div>\n

New India Assurance Company Limited announced its quarterly results on August 13, 2020. Gross premiums written grew by 6.5% yoy to Rs8,368.37cr in Q1FY21 from Rs7,860.64cr in Q1FY20.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n

Operating profit for Q1FY21 stood at Rs215.07cr which increased by 324.6% yoy, as against operating loss of Rs95.75cr inQ1FY20. Profit after tax stood at Rs286.47cr for the quarter ending June 2020. It grew by 3% yoy as compared to Rs 278.1cr it reported in Q1FY20.<\/p>\n

Solvency ratio of the company remained healthy at 2.11x in Q1FY21 as against 2.13x in Q1FY20. The combined ratio improved by 14.14% yoy to 102.14% in Q1FY21, as against 116.28% in Q1FY20.<\/p>\n

Domestic market share of company improved to 19.11% from 17.38% during the same quarter last year and the company continues to be the market leader.<\/p>\n

The share closed at Rs116.15 with decline of 0.98% in today\u2019s session on BSE.<\/p>\n\n\n\n\n\n\n\n\n

\n\t\t\t\tParticulars<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\tQ1FY21<\/strong>
(Rs in cr)<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\tQ1FY20<\/strong>
(Rs in cr)<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\t% VAR<\/strong><\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tGross Premium<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\t8,368.37<\/td>\n

<\/p>\n
\n\t\t\t\t7,860.64<\/td>\n

<\/p>\n
\n\t\t\t\t6.50<\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tOperating Profit\/(Loss)<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\t215.07<\/td>\n

<\/p>\n
\n\t\t\t\t(95.75)<\/td>\n

<\/p>\n
\n\t\t\t\t324.6<\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tPAT<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\t286.47<\/td>\n

<\/p>\n
\n\t\t\t\t278.10<\/td>\n

<\/p>\n
\n\t\t\t\t3.01<\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tCombined Ratio (%)<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\t102.14<\/td>\n

<\/p>\n
\n\t\t\t\t116.28<\/td>\n

<\/p>\n
\n\t\t\t\t-14.14<\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tSolvency Ratio(x)<\/strong><\/td>\n

<\/p>\n
\n\t\t\t\t2.11<\/td>\n

<\/p>\n
\n\t\t\t\t2.13<\/td>\n

<\/p>\n
\n\t\t\t\t-0.02<\/td>\n


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