NIVA BUPA Q2 : STANDALONE NET PROFIT UP 124.1% AT ₹135.64 CR (YOY), DOWN 1.6% (QOQ). GOOD (ON 1ST LOOK)

Revenue up 27.0% at ₹2,412.27 Cr (YOY), up 6.1% (QOQ). Gross written premium up 34.8% at ₹2,484.05 Cr (YOY), up 15.5% (QOQ). Insurance service result up 176.7% at ₹125.99 Cr (YOY), up 24.9% (QOQ). Insurance service margin 6.80% v 3.38% (YOY), 6.45% (QOQ). Caution: IRDAI order warns on FY25 EoM non-compliance and bars new place of business for six months; tax demand ₹127.16 Cr contested.

Niva Bupa Health Insurance Company Limited

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