Niva Bupa Health Insurance posts Q2 net profit of ₹13 crore vs loss YoY, share price rises 6%

Niva Bupa Health Insurance Company reported a net profit of ₹13.02 crore in the second quarter of the financial year 2024-25, compared to a net loss of ₹7.59 crore in the corresponding period last fiscal year.

The total income increased 37% to ₹1,359.74 crore in the three-month period ended September 2024 against ₹991.99 crore in the year-ago period.

The company's written gross premium rose 34.98% to ₹1,777.33 crore in the latest July-September quarter compared to ₹1,316.64 crore a year back.

Written net premium increased 34.77% year-on-year (YoY) to ₹1,393.29 crore in the quarter under review. In the year-ago period, the written net premium was ₹1,033.79 crore.

The gross non-performing assets (GNPA) ratio fell to 1.05% in Q2 FY25 compared to 1.56% in the second quarter of fiscal year 2023-24.

Niva Bupa's solvency ratio improved to 2.25 as of September 30, 2024, up from 1.62 in the same quarter the previous year, indicating that the company is in a better position to meet its long-term obligations.

Niva Bupa Health Insurance share price rises

The health insurer's market capitalisation stands at ₹14,287.35 crore.

The stock is currently up 5.6% from the issue price.

The ₹2,200 crore initial share sale of Niva Bupa, which was subscribed 1.80 times, was a fresh of ₹800 crore and an offer-for-sale component of ₹1,400 crore. The price band was set at ₹70-₹74 per share.

Niva Bupa Health Insurance Limited is among the largest and fastest-growing standalone health insurance companies in India, offering health insurance products and solutions.

As of June 2024, it had more than 200 physical branches in 22 states and 4 union territories (UTs) and insured 14.99 million active lives.