Niva Bupa shares jump over 10% after profit hits ₹345cr
Business
Niva Bupa Health Insurance just had a great quarter. Its shares shot up more than 10% on Monday after reporting a 67% jump in profit (₹345 crore vs. ₹206 crore last year) and higher total income.
Young investors and finance fans might notice: the company's growth is turning heads.
Niva Bupa premiums reach ₹2,880cr
Gross premiums went up to ₹2,880 crore, but expenses rose too.
The solvency ratio dipped a bit to 2.49, but Morgan Stanley still bumped up its target price for the stock to ₹91, pointing out better insurance service ratios and lower costs.
Plus, Niva Bupa promoted Ankur Kharbanda to deputy CEO as they keep expanding.