DHFL Pramerica H1 net profit jumps 71% to Rs 19 cr

DHFL Pramerica Life Insurance today reported a 71% growth in net profit at Rs 19.3 crore for the April-September period of current fiscal.

The company had a profit after tax of Rs 11.3 crore in first half of 2014-15 fiscal.

New business premium income grew 44% during the first half of current fiscal to Rs 322 crore, DHFL Pramerica Life Insurance (DPLI) said in a statement.

The private sector life insurance has over 5 million customers and 22 products in its portfolio.

"The unique distribution mix of the company, including the strong network of DHFL branches, combined with its well-defined strategy of segmenting and targeting specific customer groups such as the armed forces, para-military personnel and teachers, has contributed significantly to our sustained business performance," DPLI's Managing Director and CEO Anoop Pabby said in a statement.

Gross written premium at the end of September stood at Rs 405 crore, a growth of 42% over the corresponding period last year.