New Delhi, Aug 11 (PTI) Public sector general insurer New India Assurance on Friday reported doubling of net profit to Rs 260 crore for the June quarter.

The non-life insurer had recorded a net profit of Rs 118 crore in the year-ago period.

Also Read | Manipur Violence: Thousands of Women Stage Protests in Five Districts Over Gangrape of 37-Year-Old Woman, Demand CBI Probe.

Its total income rose to Rs 9,274 crore in the first quarter of the current fiscal, as against Rs 8,143 crore, New India Assurance said in a regulatory filing.

The company said the gross premium during the quarter rose to Rs 11,362 crore as against Rs 10,349 crore last year.

Also Read | UPSC NDA 2 Admit Card 2023 Out on upsc.gov.in, Know How to Download.

The Mumbai-headquartered insurer, which has a presence in 28 countries, earned an income from investment of Rs 1,355 crore as against Rs 962 crore in the year-ago quarter.

The gross NPA of the insurer came down to 0.85 per cent from 1.19 per cent in the first quarter of the previous fiscal.

The company witnessed an improvement in solvency margin to 1.85 per cent as against 1.72 per cent in the June quarter last year.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)