SBI Life reports 8% growth in pre-tax profit for Q4FY20; margin improves

The net profit of the insurer jumped 16 per cent to Rs 531 crore in Q4FY20 from Rs 458 crore because of lower tax provision

SBI Life Insurance (SBI Life) reported an 8 per cent growth in pre-tax profit for the March 2020 quarter to Rs 522 crore, compared to Rs 482 crore in the same period last financial year.

 Net profit jumped 16 per cent to Rs 531 crore from Rs 458 crore, on account of lower tax provision. The insurer made losses in its investment portfolio to the tune of Rs 6,677 crore, as opposed to an investment income of Rs 4,150 crore last year.

 In line with other life insurers, SBI Life’s new business also took a big hit, though it improved