General Insurance Corporation of India reports mixed performance in Q2 2024-25

General Insurance Corporation of India, a leading finance and non-banking financial company (NBFC) in the largecap category, has recently announced its financial results for the quarter ending September 2024. The company's stock has been given a 'Hold' call by MarketsMOJO.

According to the financial report, General Insurance Corporation has shown a flat performance in the second quarter of the fiscal year 2024-25. The company's score has decreased from 3 to 1 in the last three months.

However, there are some positive aspects in the financials of General Insurance Corporation. The Profit Before Tax (PBT) less Other Income for the quarter has grown by 62.51% year on year, standing at Rs 2,380.18 crore. The near-term trend for PBT is also very positive. The Profit After Tax (PAT) for the half-yearly period has also shown growth of 22.12% year on year, amounting to Rs 3,256.37 crore. The near-term trend for PAT is positive.

On the other hand, there are some areas where General Insurance Corporation needs to work on. The Net Sales for the quarter have shown a decline of -5.33% year on year, standing at Rs 12,377.97 crore. The near-term trend for sales is negative. The company's Earnings per Share (EPS) for the quarter is at its lowest in the last five quarters, at Rs 0.00. This indicates a declining profitability and lower earnings for shareholders.

Overall, General Insurance Corporation of India has shown a mixed performance in the second quarter of the fiscal year 2024-25. Investors are advised to hold their positions in the company's stock, as per the recommendation by MarketsMOJO.