HDFC Life Q2 Profit Jumps 15% to Rs 433 Cr

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.