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Health insurer WellCare's quarterly profit jumps 78 pct

May 3 U.S. health insurer WellCare Health Plans Inc reported a 78 percent surge in quarterly profit, driven by higher enrolments in its Medicaid plans for low-income families.

The company's net income jumped to $67.3 million, or $1.50 per share, in the first quarter ended March 31, from $37.8 million, or 85 cents per share, a year earlier.

WellCare, which focuses on government-backed health plans, said revenue rose to $3.92 billion from $3.45 billion. (Reporting by Divya Grover in Bengaluru; Editing by Savio D'Souza)

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