Woodland Hills insurance company Health Net Inc. reported a 16 percent increase in quarterly profit. First quarter income topped $88.6 million $0.77 per diluted share compared to $76.6 million, or $0.65 a share, a year prior. Revenue also increased to $3.4 billion, a 7.6 percent boost. The company experienced a decrease of about 74,000 enrolled members to 3.3 million. It credited the declines to lapses in unprofitable, large group accounts.
