Star Health and Allied Insurance has reported a remarkable financial performance for the first quarter of 2024, with profits soaring by 1818.72% year-over-year (YOY). The company announced these impressive results on July 30, 2024, showcasing significant growth across various financial metrics.
Key Financial Highlights
Star Health’s revenue surged by 2634.56% YOY. Quarter-over-quarter (QOQ), the revenue increased by 3.22%.
The company’s profit saw a staggering rise of 1818.72% YOY and grew by 124.09% compared to the previous quarter.
Operating income was up by 300.35% QOQ and increased by 935.4% YOY.
Selling, general, and administrative expenses declined by 17.21% QOQ but increased by 2184.56% YOY.
The EPS for Q1 2024 is ₹5.36, reflecting an increase of 446.87% YOY.
Market Performance
Star Health has delivered a 3.33% return over the past week, 8.89% over the last six months, and a year-to-date (YTD) return of 15.12%.
As of the latest report, Star Health and Allied Insurance holds a market cap of ₹36044.11 Crore, with a 52-week high of ₹675 and a low of ₹454.8.
Analyst Ratings
Out of 17 analysts covering Star Health and Allied Insurance, the consensus recommendation as of July 31, 2024, is to Buy. This includes strong endorsements from 7 analysts who have given a Strong Buy rating, indicating high confidence in the company’s future performance. Additionally, 5 analysts have rated the stock as a Buy, reflecting a positive outlook. On the other hand, 3 analysts have issued a Sell rating, and 2 have given a Strong Sell rating, suggesting some concerns about potential risks. Overall, the majority of analysts remain optimistic about Star Health’s growth prospects and financial health.
