HDFC Life's Profit Rises But Total Income Slips

HDFC Life reports a 14% increase in net profit to Rs 415 crore for the December quarter, compared to Rs 365 crore a year ago. However, total income fell from Rs 26,694 crore to Rs 16,914 crore. The solvency ratio dropped slightly to 188%, still above regulatory requirements.

HDFC Life, a major private sector insurer, announced a 14% increase in net profit, reaching Rs 415 crore for the quarter ending in December. This marks an improvement from the Rs 365 crore profited in the same period last year, as per their regulatory filing on Wednesday.

Despite the profit uptick, the company's total income saw a decline, falling from Rs 26,694 crore in the previous year to Rs 16,914 crore in the latest quarter. The period also witnessed a slight drop in the company's solvency ratio to 188% from 190% as of December 31, 2023, although it remains comfortably above the regulatory requirement of 150%.

Analyzing the financial results for the nine-month period ending December, HDFC Life posted a profit of Rs 1,326 crore, an increase from Rs 1,157 crore earned during the corresponding period the previous year.

(With inputs from agencies.)