THE NEW INDIA ASSURANCE Announces Quarterly Results (1QFY22); Net Profit Down 65.3%

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THE NEW INDIA ASSURANCE Announces Quarterly Results (1QFY22); Net Profit Down 65.3%
Mon, 16 Aug

THE NEW INDIA ASSURANCE has announced its results for the quarter ended June 2021. Here is a detailed performance review of the same:

THE NEW INDIA ASSURANCE Quarterly Financials

No. of Mths
Qtr. Ending
3
Jun-20*
3
Mar-21*
3
Jun-21*
QoQ ChangeYoY Change
Net SalesRs m60,62269,91968,151-2.5%12.4%
Other incomeRs m8,62822,90613,026-43.1%51.0%
TurnoverRs m69,24992,82481,177-12.5%17.2%
ExpensesRs m65,80189,58180,027-10.7%21.6%
Gross profitRs m-5,180-19,662-11,877
DepreciationRs m0000.0%0.0%
InterestRs m0000.0%0.0%
Profit before taxRs m3,4483,2441,149-64.6%-66.7%
TaxRs m611844166-80.3%-72.8%
Profit after taxRs m2,8372,399983-59.0%-65.3%
Gross profit margin%-8.5-28.1-17.4
Effective tax rate%17.726.014.5
Net profit margin%4.12.61.2
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Accord Fintech, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 12.4% on a year-on-year (YoY) basis. The expenses were up by 21.6% YoY during the same period.
  • The company's operating profit increased by 129.3% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 17.4% in 1QFY22 as against 8.5% in 1QFY21.
  • Depreciation charges increased by 0.0% and finance costs increased by 0.0% YoY, respectively.
  • Other income increased by 51.0% YoY during the quarter.
  • Net profit for the quarter declined by 65.3% YoY. Net profit margins during the quarter declined from 4.1% in 1QFY21 to 1.2% in 1QFY22.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter fell 2.5% on a quarter-on-quarter (QoQ) basis. The expenses were down by 10.7% QoQ during the same period.
  • The company's operating profit declined by 39.6% QoQ during the quarter. Consequently, operating profit margins witnessed a growth and stood at 17.4% in 1QFY22 as against 28.1% in 4QFY21.
  • Net profit for the quarter declined by 59.0% QoQ, while net profit margins declined from 2.6% in 4QFY21 to 1.2% in 1QFY22.

To see how THE NEW INDIA ASSURANCE has performed over the last eight quarters,please visit here.

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THE NEW INDIA ASSURANCE Share Price Performance

Over the last one year, THE NEW INDIA ASSURANCE share price has moved up from Rs 116.2 to Rs 144.3, registering a Gain of Rs 28.2 or around 24.2%.

Overall, the S&P BSE SENSEX is up 45.0% over the year.

Current Valuations

At the current price of Rs 144.3, the price to earnings (P/E) ratio of THE NEW INDIA ASSURANCE stands at 16.7 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 1.3 times.

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