Oct 29 (Reuters) - Centene ( CNC ) on Wednesday reported

a surprise profit for the third quarter, helped by a low tax

rate.

Shares of the company rose nearly 12% in premarket trading.

The health insurer also forecast 2025 adjusted profit of at

least $2.00 per share, above its previous forecast of about

$1.75. Analysts had estimated a profit of $1.68, as per data

compiled by LSEG.

The company said it recorded a non-cash goodwill impairment

of $6.7 billion after a quantitative analysis, which resulted in

a net loss of $13.50 per share in the third quarter.

Centene ( CNC ) reported a medical cost ratio, the percentage of

premiums spent on medical care, of 92.7% compared with analysts'

average estimate of 90.70%.

The company said the increase was mainly due to increased

costs in its Obamacare plans as well as higher medical costs in

Medicaid plans driven primarily by behavioral health and home

health services.

On an adjusted basis, the company reported a quarterly

profit of 50 cents per share, compared with analysts' estimates

of a loss of 14 cents.

(Reporting by Sneha S K and Sriparna Roy in Bengaluru; Editing

by Shinjini Ganguli)