HDFC Life posts 14% rise in Sept quarter profit

HDFC Life posts 14% rise in Sept quarter profit

SEBI RA – Shubh Consultancy – Sunil Kotak – INH000015826 Key take away - Value of new business (VNB) margin expanded 20 basis points to 24.7% against 24.5% a year ago. One basis point is a hundredth of a percentage point. Value of new business grew 12% to ₹2,040 crore Mumbai: HDFC Life Insurance reported a 14% increase in standalone net profit to ₹508 crore for the September quarter, compared with ₹447 crore a year earlier, as premium income rose and the insurer expanded sales of non-participating (non-par) savings, annuity and protection products. Net premium income increased 16% to ₹21,727 crore from ₹18,777 crore in the corresponding quarter last year. Value of new business (VNB) margin expanded 20 basis points to 24.7% against 24.5% a year ago. One basis point is a hundredth of a percentage point. Value of new business grew 12% to ₹2,040 crore. All this is for information This is not a buy/sell recommendation. Thank you, Technofunda24