Business Standard

HDFC Life's net profit rises 19% to Rs 326.24 crore in Sept quarter

Value of new business (VNB) of the insurer was up 10.3 per cent YoY to Rs 748 crore in Q2FY23 compared to Rs 678 crore in the year-ago period

HDFC Life to raise exposure to capital goods stocks on govt infra push
Premium

APE is the sum of annualized first year regular premiums and 10 per cent weighted single premiums and single premium top-ups

Subrata Panda
Private sector insurer HDFC Life on Friday reported a 19 per cent year-on-year (YoY) increase in its net profit to Rs 326.24 crore in the July–September quarter (Q2FY23).

The rise in profit was driven by growth in the back book, which in turn was a result of good persistence and growth in renewal premiums.

Value of new business (VNB) of the insurer increased 10.3 per cent YoY to Rs 748 crore in Q2 against Rs 678 crore in the year-ago period. VNB is the present value of all future profits to shareholders measured at the time of writing the new business

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Oct 21 2022 | 8:42 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com