HDFC Life Reports Significant Profit Growth in Q3

NEW DELHI: In a recent regulatory filing, HDFC Life revealed a remarkable 14% increase in net profit, amounting to Rs 415 crore for the December quarter. This is a significant rise from the Rs 365 crore reported in the same period last year.

Despite the profit surge, the company experienced a decline in total income, which fell to Rs 16,914 crore from Rs 26,694 crore in the previous year. Additionally, the solvency ratio slightly decreased to 188% from 190% as of December 31, 2023, still comfortably above the regulatory requirement of 150%.

For the nine-month period ending in December, HDFC Life posted a profit of Rs 1,326 crore, compared to Rs 1,157 crore in the corresponding period a year ago, showcasing the company's robust financial health and operational efficiency.