E-PaperGeneral Insurance Corporation Of India Q2 FY24 results: profit falls by 23.8% YOY
General Insurance Corporation Of India Q2 FY24 results: Revenue increased by 7.87% YoY & profit decreased by 23.8% YoY
General Insurance Corporation Of India declared their Q2 FY24 results on 09 Nov, 2023. The topline increased by 7.87% & the profit decreased by 23.8% YoY. As compared to the previous quarter the revenue grew by 16.67% and the profit increased by 72.76%.
The Selling, general & administrative expenses declined by 21.39% q-o-q & increased by 391.62% Y-o-Y.
The operating income was up by 43.68% q-o-q & decreased by 25.04% Y-o-Y.
The EPS is ₹9.69 for Q2 FY24 which decreased by 23.6% Y-o-Y.
General Insurance Corporation Of India has delivered -1.3% return in the last 1 week, 27.54% return in last 6 months and 25.54% YTD return.
Currently the General Insurance Corporation Of India has a market cap of ₹39368.74 Cr and 52wk high/low of ₹239.5 & ₹127.8 respectively.
As of 12 Nov, 2023 out of 4 analysts covering the company, 1 analyst has given Hold rating &3 analysts have given Buy rating.
The consensus recommendation as on 12 Nov, 2023 was to Buy.
General Insurance Corporation Of India Financials
| Period | Q2 FY24 | Q1 FY24 | Q-o-Q Growth | Q2 FY23 | Y-o-Y Growth |
|---|---|---|---|---|---|
| Total Revenue | 12186.86 | 10445.84 | +16.67% | 11298.03 | +7.87% |
| Selling/ General/ Admin Expenses Total | 85.65 | 108.95 | -21.39% | -29.37 | +391.62% |
| Total Operating Expense | 10447.28 | 9235.08 | +13.13% | 8977.48 | +16.37% |
| Operating Income | 1739.58 | 1210.76 | +43.68% | 2320.55 | -25.04% |
| Net Income Before Taxes | 1855.38 | 1153.58 | +60.84% | 2675.96 | -30.66% |
| Net Income | 1688.96 | 977.66 | +72.76% | 2216.55 | -23.8% |
| Diluted Normalized EPS | 9.69 | 5.98 | +62.06% | 12.69 | -23.6% |
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