Financial Daily from THE HINDU group of publications
Tuesday, Aug 03, 2004
Financial Daily from THE HINDU group of publications Tuesday, Aug 03, 2004 |
||
|
|
||
|
Money & Banking
-
Financial Performance Corporate Results - General Insurance Oriental Insurance logs record Rs 322-cr net Our Bureau
Mr S. L. Mohan, CMD, Oriental Insurance Company Ltd (left), with Mr R. G. Viswanathan, Financial Advisor, at a press conference in the Capital on Monday. - - Ramesh Sharma
New Delhi , Aug 2 ORIENTAL Insurance Co Ltd registered a record net profit of Rs 322 crore for the fiscal ended March 31, 2004, as against Rs 63.99 crore in the previous year. Profit before tax rose to Rs 454.33 crore against Rs 175.89 crore in the previous year. Gross premium during the year showed a marginal increase of 1.1 per cent to Rs 2,899.74 crore (Rs 2,868.15 crore) while net premium grew by 7.1 per cent to Rs 2,033.03 crore (Rs 1,898.43 crore). Net incurred claims rose to Rs 1,587.64 crore (with net incurred claims ratio standing at 78.1 per cent) from Rs 1,466.55 crore (77.3 per cent). Addressing a press conference, the Chairman and Managing Director, Mr S.L. Mohan, said the company has set itself a target of achieving 12 per cent growth in gross premium during the current fiscal.
More Stories on : Financial Performance | General Insurance
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|