New India Assurance reports Q2 net profit at Rs 71 crore

New India Assurance on Wednesday reported a net profit of Rs 71 crore for the second quarter ended September 2024.

The state-owned general insurer had booked a net loss of Rs 200 crore in the year-ago period.

The total income of the Mumbai-based entity rose to Rs 10,090 crore from Rs 9,839 crore in the year-ago period, New India Assurance said in a regulatory filing.

The company's written gross premium also rose to Rs 9,620 crore in the second quarter of this fiscal compared to Rs 9,397 crore a year ago.

Its net premium collection increased to Rs 8,067 crore against Rs 7,894 crore in the same quarter a year ago, it said.

However, the total expenditure of the company during the period under review declined to Rs 10,577 crore from Rs 10,628 crore in the year-ago period.