New India Assurance posts Q4 loss at Rs 271 cr

State-owned general insurer New India Assurance Co Ltd Monday reported a loss of Rs 270.52 crore in the fourth quarter of fiscal ended March 31.

There was a net profit of Rs 335.96 crore in the similar January-March period of 2017-18.

Total income in the March quarter rose to Rs 6,570.11 crore from Rs 6,060.47 crore in same period a year ago, the company said in a regulatory filing.

For the full year, the insurer registered a net profit of Rs 604.77 crore in 2018-19 as against Rs 2,189.22 crore in the previous fiscal.

Total income in the year went up to Rs 25,406.19 crore from Rs 23,365.03 crore.

 

The board of directors has recommended a dividend of Rs 1.50 per share for 2018-19, subject to shareholders' approval, the filing said.

Stock of NIACL closed 0.35 per cent down at Rs 172.80 on the BSE.