HDFC Life reports 17% decline in pre-tax profit to Rs 284.47 cr in Q4

Net profit also declined 14% on account of loss in investment income and higher provisions.

HDFC Life Insurance reported a 17 per cent decline in pre-tax profit to Rs 284.47 crore in the quarter ending March (Q4FY20), compared to Rs 345.28 in the same period last year.

Similarly, net profit declined 14 per cent to Rs 311.65 crore, from Rs 364.68 crore in the same period last year, on account of loss in investment income and higher provisions.

Investment income ran into negative territory. In Q4FY20, the insurer’s investment loss came in at Rs 10,230 crore, compared to investment income of Rs 3,755.65 crore. Provisions for diminution in value of investments rose to Rs 375.85 crore in