HDFC Life Insurance Company on Friday posted a 15.5 per cent jump in its net profit to Rs 377 crore for the September 2023 quarter, compared with Rs 326 crore a year ago, according to a BSE filing.
The Mumbai-based insurer’s total annualised premium equivalent, a closely-watched gauge of insurance sales, increased 9 per cent during the July-September 2023 quarter.
Its net premium income during the second quarter of 2023-24 stood at Rs 14,755 crore, which is 28 per cent higher as compared with Rs 11,479 crore a year ago.
The value of new business stood at Rs 801 crore compared to Rs 770 crore on a YoY basis. VNB margin of the company stood at 26.4 per cent versus 27.1 per cent YoY.
Shares of HDFC Life Insurance Company on Friday closed almost flat (up by Rs 0.35 or 0.06 per cent) at Rs 625 apiece on the BSE.
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