The New India Assurance Company Q2 Results Live : The New India Assurance Company declared its Q2 results on October 30, 2024, reporting a profit of ₹89.7 crore. This marks a significant turnaround from the previous fiscal year’s Q2, where the company posted a loss of ₹176.13 crore. The topline for the quarter saw a modest increase of 2.51% year-on-year, and revenue grew by 2.73% compared to the previous quarter.
In terms of expenses, the company reported a decline in selling, general, and administrative expenses, which dropped by 16.25% quarter-on-quarter and by 21.06% year-on-year. This reduction in costs has likely contributed to the improved profitability in the current quarter.
However, the operating income saw a significant drop, decreasing by 88.06% quarter-on-quarter, while it did manage to increase by 39.53% year-on-year. The earnings per share (EPS) stood at ₹0.57 for Q2, reflecting a remarkable increase of 155.08% year-on-year.
Despite the positive results for the quarter, The New India Assurance Company’s stock performance remains under pressure. Over the past week, the company has delivered a -1.12% return, with returns of -18.09% over the last six months and -6.85% year-to-date.
The company’s current market capitalization is ₹32,290.91 crore, with a 52-week high of ₹324.7 and a low of ₹133. As of November 1, 2024, among the analysts covering the stock, one has given a ‘Sell’ rating while another has issued a ‘Buy’ rating.
The New India Assurance Company Financials
| Period | Q2 | Q1 | Q-o-Q Growth | Q2 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 10134.53 | 9865.29 | +2.73% | 9885.94 | +2.51% |
| Selling/ General/ Admin Expenses Total | 708.3 | 845.77 | -16.25% | 897.21 | -21.06% |
| Total Operating Expense | 10626.09 | 10126.68 | +4.93% | 10698.84 | -0.68% |
| Operating Income | -491.56 | -261.39 | -88.06% | -812.9 | +39.53% |
| Net Income Before Taxes | 140.75 | 272.09 | -48.27% | -241.99 | +158.16% |
| Net Income | 89.7 | 239.31 | -62.52% | -176.13 | +150.93% |
| Diluted Normalized EPS | 0.57 | 1.5 | -62.12% | -1.03 | +155.08% |