WellPoint’s Profit Grows by 4% to $51.8 Million

WellPoint Health Networks Inc., a Woodland Hills-based managed-care company, said its profit for the third quarter that ended Sept. 30 was $51.8 million, up 4% from $49.8 million in the same quarter last year. Premium revenues for the quarter were $723 million, up about 10% from $660 million last year.

For the first nine months of 1995, WellPoint’s profit was $167 million, up 4% from $161 million in the corresponding period a year ago. Premium revenues were $2.18 billion, up 11% from $1.97 billion in the first nine months last year.

WellPoint attributed the results for the quarter and nine months to a 7% growth in its membership since last year’s third quarter. The company also cited cost control efforts and a push for efficient use of medical resources.