Q1FY21 results: General Insurance Corporation of India records net loss of Rs 557.47 crore
General Insurance Corporation of India announced its Q1FY21 results on Sep 7, 2020. Loss after tax in Q1FY21 came in at Rs 557.47 crore which declined by 613.32 per cent, as compared to Q1FY20, when it reported profit of Rs 108.6 crore.
Gross premiums written in Q1FY21 stood at Rs 15881.55 crore, which declined by 23.69 per cent YoY from Rs 20813.12 crore in Q1FY20.
Operating loss stood at Rs 852.99 crore in Q1FY21 that decreased by 517.54 per cent YoY. For Q1FY20, it had posted Operating profit of Rs 204.29 crore.
The combined ratio for Q1FY21 is 112.16 per cent which increased by 9.53 per cent YoY. The combined ratio for Q1FY20 was 102.63 per cent.
Solvency ratio of the company stood at 1.52x in Q1FY21 as against 1.89x in Q1FY20.
On Tuesday, share price of the company at 11:17am was trading at Rs 140.2, down by 3.24 per cent.
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Particulars
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Q1FY21 (Rs in cr)
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Q1FY20 (Rs in cr)
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Per cent change
|
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PAT(loss)
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(557.47)
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108.60
|
-613.32
|
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Gross Premium
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15,881.55
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20,813.12
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-23.69
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Operating Profit(loss)
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(852.99)
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204.29
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-517.54
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Combined Ratio (%)
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112.16
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102.63
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9.53
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Solvency Ratio(x)
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1.52
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1.89
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-0.37
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