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News Details

( As on 13/11/2024 11:40)

General Ins. Corp. Q2 net profit up 15.93% at Rs 1860.76 cr

The company reported standalone net profit of Rs 1,860.76 crore for the quarter ended September 30, 2024 as compared to Rs 1605.09 crore in the same period last year, registering a year-on-year growth of 15.93 per cent.

Net revenue of the company declined moderately by 11.16 per cent at Rs 8,847.04 crore in July-September quarter of this fiscal as against Rs 9,958.11 crore in the corresponding period last year.

During July-September quarter, operating expenses dropped by 14.18 per cent to Rs 9,965.06 crore from Rs 11,611.61 crore in year ago period.

Other Income dipped by 121.04 per cent at Rs -84.18 crore versus (Sep'23 Rs 400.13 crore).

Operating Profit surged by 63.41 per cent to Rs 2,365.32 crore as against Rs 1,447.47 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 83.91 per cent in September quarter.

Taxation increased by 73.35 per cent at Rs 420.38 crore (Sep'23 Rs 242.51 crore).