India, April 16 -- Insurer Progressive Corp. (PGR) reported Wednesday lower profit in the month of March, while first-quarter profit increased from last year, with growth in net premiums.
In the pre-market activity on the NYSE, Progressive shares were gaining around 3 percent to trade at $284.36.
In the month of March, net income fell 42 percent to $522 million from last year's $893 million. Earnings per share were $0.89, 42 percent lower than $1.52 a year ago.
The monthly net premiums written, however, grew 17 percent to $9.04 billion from prior year's $7.75 billion. Net premiums earned climbed 20 percent to $6.79 billion from $5.63 billion last year.
In the first quarter, net income grew 10 percent to $2.57 billion from last year's $2...