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HDFC Life Insurance net profit grows 3.3 pc Y-o-Y in Q3FY22 HFC Life Insurance | q3fy22

HDFC Life Insurance net profit grows 3.3 pc Y-o-Y in Q3FY22

India Blooms News Service | @indiablooms | 21 Jan 2022, 05:13 pm

Mumbai/IBNS: HDFC Life Insurance on Friday reported a 3.3 percent year-on-year rise in net profit to Rs 273.7 crore for the October-December quarter.

The company said it net premium income rose 27.8 percent on-year to Rs 12,124 crore in the Q3FY22.

Going slightly above analysts' expectation of Rs 2,508 crore, the insurer's annual premium equivalent showed 20.4 percent on-year growth to Rs 2,597 crore.

Value of new business in the quarter-ended December increased nearly 22 percent percent on-year to Rs 694 crore.

At the end of the December quarter, Assets Under Management or the total market value of the investments that a person or entity handles on behalf of investors, stood at Rs 1.95 lakh crore, growing 18 percent from the same quarter previous year.

Income from investments net of amortisation alid 82 percent on-year to Rs 1,981.8 crore in the December quarter.