General Insurance Corporation of India's Q4 results show decline in sales and profitability

General Insurance Corporation of India, a leading finance and non-banking financial company (NBFC) in the largecap category, recently announced its financial results for the quarter ending March 2024. The results, declared on May 29, have received a 'Hold' call from MarketsMOJO.

However, the company's performance for the quarter has been relatively flat, with a score of -3 compared to 1 in the previous quarter. This indicates a decline in overall financial performance.

One of the major factors contributing to this decline is the net sales, which have been the lowest in the last five quarters at Rs 10,254.16 crore. The near-term sales trend is also negative, indicating a potential decrease in revenue.

Another concerning aspect is the Profit Before Tax less Other Income (PBT), which has fallen by 8.32% year on year (YoY) to Rs 2,964.32 crore. The near-term trend for PBT is also negative, suggesting a decrease in profitability.

Similarly, the Profit After Tax (PAT) has also seen a decline of 5.5% YoY to Rs 2,580.42 crore. The near-term trend for PAT is also negative, indicating a decrease in overall profitability.

Overall, the financial results for the quarter ending March 2024 have not been favorable for General Insurance Corporation of India. Investors are advised to hold their positions and closely monitor the company's performance in the coming quarters.