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General Insurance Corporation reports 20% fall in Q4 net profit

 

General Insurance Corporation of India has reported results for fourth quarter and year ended March 31, 2019.

The company has reported a fall of 19.72% in its net profit at Rs 603.37 crore for the quarter under review as compared to Rs 751.61 crore for the same quarter in the previous year. Total income of the company decreased by 27.09% at Rs 6,092.00 crore for Q4FY19 as compared Rs 8,355.55 crore for the corresponding quarter previous year.

For the year ended March 31, 2019, the company has reported a fall of 31.21% in its net profit at Rs 2,224.31 crore as compared to Rs 3,233.59 crore for the previous year. However, total income of the company marginally increased by 1.56% at Rs 42,527.93 crore for year under review as compared to Rs 41,873.60 crore for year ended March 31, 2018.

For the year ended March 31, 2019, on the consolidated basis, the company has reported a fall of 17.41% in its net profit at Rs 2,638.47 crore as compared to Rs 3,194.62 crore for the previous year. However, total income of the company marginally increased by 2.22% at Rs 43,122.57 crore for year under review as compared to Rs 42,186.09 crore for year ended March 31, 2018.

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