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.
