New India Assurance posted a sharp rise in its net profit at Rs. 644
crore for the half year ended September 30, 2013, against Rs. 205 crore
in the same period last year. Its global premium rose to Rs. 6,906
crore registering a growth of 12.5 per cent. The incurred claims ratio
dropped to 85 per cent from 93 per cent in the year-ago period. The
company’s international operations in 22 countries registered a profit
of Rs. 132 crore during the period under reference. Investment income
rose to Rs. 1,577 crore from Rs. 1,342 crore. The net worth of the
company increased by 9 per cent to Rs. 8,420 crore from Rs. 7,737
crore.
Sundram Fasteners
Sundram Fasteners has announced a 42 per cent rise in its net profit at
Rs. 35.35 crore in the second quarter ended September 30, 2013, against
Rs. 24.87 crore in the year-ago period.
Sales and operating income stood at Rs. 501.68 crore
against Rs. 509.01 crore. Domestic sales accounted for Rs. 308.18 crore
(Rs. 330.42 crore), and exports Rs. 188.14 crore (Rs.168.12 crore).
The company has declared an interim dividend of 70 paise per share of Re.1 face value.
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