HDFC Life Shares Surge 12% on Strong Q3 Earnings
By Rediff Money Desk, New Delhi Jan 16, 2025 11:49
HDFC Life shares rallied nearly 12% on Thursday after the company reported a 14% increase in net profit for the December quarter. The stock surged on both BSE and NSE.
New Delhi, Jan 16 (PTI) Shares of HDFC Life on Thursday jumped nearly 12 per cent after the firm reported a 14 per cent rise in net profit to Rs 415 crore in the December quarter.
The stock surged 11.15 per cent to Rs 660.55 on the BSE.
At the NSE, it soared 11.67 per cent to Rs 663.60.
The private sector insurer's profit stood at Rs 365 crore in the year-ago period, HDFC Life said in a regulatory filing on Wednesday.
However, total income declined to Rs 16,914 crore in the latest quarter from Rs 26,694 crore in the year-ago period.
The company's solvency ratio also declined to 188 per cent from 190 per cent as on December 31, 2023 as against the regulatory requirement of 150 per cent.
For the nine-month period ended December, the life insurer posted a profit of Rs 1,326 crore as against Rs 1,157 crore in the corresponding period a year ago.
The stock surged 11.15 per cent to Rs 660.55 on the BSE.
At the NSE, it soared 11.67 per cent to Rs 663.60.
The private sector insurer's profit stood at Rs 365 crore in the year-ago period, HDFC Life said in a regulatory filing on Wednesday.
However, total income declined to Rs 16,914 crore in the latest quarter from Rs 26,694 crore in the year-ago period.
The company's solvency ratio also declined to 188 per cent from 190 per cent as on December 31, 2023 as against the regulatory requirement of 150 per cent.
For the nine-month period ended December, the life insurer posted a profit of Rs 1,326 crore as against Rs 1,157 crore in the corresponding period a year ago.
Source: PTI
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