GIC Q1 Result: Profit Up 43%, Net Premium Income Rises 16%
General Insurance Corp. reported a 43% rise in consolidated net profit in the first quarter of fiscal 2025. The company's bottom line came in at Rs 1,401 crore in the June quarter, compared to Rs 978 crore in the same period last year, according to an exchange filing on Friday.
Net premium income increased 16% to Rs 10,098 crore, compared to Rs 8,696 crore in the corresponding period last year.
The solvency ratio, which provides a clear picture of an insurance company's overall financial health, increased from 2.88 to 3.36.
On the other hand, gross non-performing assets declined from 1.93% to 1.89%, sequentially.
Shares of GIC closed 0.51% lower at Rs 389.3 apiece ahead of the announcement, compared to a 1% advance in the benchmark BSE Sensex.
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