HDFC Life's net profit surged 16% to Rs 365 crore in Q3 FY23, driven by strong income growth. Read more about the insurer's performance and financial highlights.
New Delhi, Jan 12 (PTI) HDFC Life on Friday reported a 16 per cent increase in net profit to Rs 365 crore in the third quarter ended December.
The private sector insurer's profit stood at Rs 315 crore in the year-ago period, HDFC Life said in a regulatory filing.
Total income increased to Rs 26,694 crore in the latest December quarter from Rs 19,693 crore in October-December 2022.
However, the company's solvency ratio declined to 190 per cent from 209 per cent as on December 31, 2022.
The regulatory requirement is 150 per cent.
For the nine months period ended December, the life insurer posted a profit of Rs 1,157 crore as against Rs 1,001 crore in the corresponding period a year ago.
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