Star Health and Allied Insurance saw a significant decrease in its shares, dropping over 6% on October 30. This decline followed the company's announcement of an 11.18% decrease in net profit for the September quarter.

The insurance provider reported a net profit of Rs 111.29 crore, down from Rs 125.30 crore in the same period last year. The stock reacted strongly to the earnings report, reaching a low of Rs 500.65 on the National Stock Exchange (NSE) before trading at Rs 503.65, reflecting a decrease of 6.08%.

Despite the decline in profit, the company reported a strong 15.54% increase in sales, reaching Rs 3,703.88 crore for the quarter ending September 2024, compared to Rs 3,205.58 crore in the previous year.