Star Health Q3 Profit Plunges 40% Amidst Underwriting Losses, Premiums Still Grow

• Star Health and Allied Insurance Company reported a 40.5% year-on-year decline in net profit for Q3, reaching ₹128.2 crore.
• Operating profit also fell significantly by 54.6% year-on-year to ₹69.2 crore.
• Net earned premium, however, grew by 11.9% year-on-year to ₹4,250 crore, indicating continued business volume growth.
• The company recorded an underwriting loss of ₹124.9 crore, a substantial increase from ₹48.9 crore in the prior year.
• Despite profit decline, Star Health's shares closed higher on NSE, up 3.48% at ₹440.

Why It Matters: Star Health's Q3 profit dropped sharply due to increased underwriting losses, despite premium growth.