HDFC Life Q2 Profit Jumps 15% to Rs 433 Cr
Oct 15, 2024 16:02
HDFC Life's net profit for Q2 FY25 rose 14.85% to Rs 433 crore, driven by a surge in net premium and first-year premium collection. Solvency ratio remains strong at 181%.
Illustration: Dominic Xavier/Rediff.com
New Delhi, Oct 16 (PTI) HDFC Life on Tuesday reported a 14.85 per cent increase in net profit to Rs 433 crore for the second quarter of the current fiscal year.
The life insurance subsidiary of HDFC Bank had reported a Rs 377 crore profit in the same period a year ago.
The net premium rose to Rs 16,570 crore during the quarter from Rs 14,756 crore in the year-ago period, HDFC Life said in a regulatory filing.
During the latest quarter, the first-year premium collection increased to Rs 3,253 crore from Rs 2,566 crore in the same period a year ago.
Solvency Ratio stood at 181 per cent, comfortably above the regulatory threshold of 150 per cent, it said.
Post-subordinated debt raise of Rs 1,000 crore on October 9, 2024, solvency stood at 192 per cent, it added.
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