SYDNEY, Aug 21 (Reuters) - Australian health insurer Medibank Private Ltd MPL.AX said underlying net profit rose 13 percent in its first year as a listed company, beating analysts' expectations as growth in premiums outstripped benefit payments.
Underlying net profit came in at A$285.3 million for the year to June 30, better than the A$266 million average forecast from 16 analysts polled by Thomson Reuters Starmine.
The 13 percent rise in underlying profit excludes a A$134.7 million writedown the previous year for Medibank's telehealth business. If that writedown is included, net profit would have more than doubled.