Niva Bupa shares rise over 6% on returning to black in Q2

Shares of newly-listed Niva Bupa Health Insurance climbed as much as 6.2% to Rs 78.32 on the BSE after the insurance firm on Monday posted a profit after tax of Rs 13.02 crore for the quarter ended September, compared to a loss of Rs 759 lakh in the year-ago period. The company reported a loss of Rs 18.82 crore in the quarter ended June.

Quarterly net premium written for the insurance firm stood at Rs 1,393.29 crore, jumping about 35% from Rs 1,033.79 crore reported in the year-ago period, while the total income for the quarter was Rs 1,359.74 crore, compared to Rs 991.99 crore in the year-ago quarter, the company filing showed.

The company's written gross premium climbed 35% to Rs 1,777.33 crore for the quarter ended September, compared to Rs 1,316.64 crore a year ago.


Shares of Niva Bupa Health Insurance made a decent Dalal Street debut earlier this month, listing at about 6% premium on November 14. The stock was listed at Rs 78.14 apiece on the NSE against the offer price of Rs 74, a premium of 5.59%. On the BSE, the stock made a debut at Rs 78.50 per share, a premium of 6.08%.

The company’s current market capitalisation stands at Rs 14,024.25 crore.

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