HDFC Life Insurance Q2 profit up 7% at Rs 309 cr

HDFC Life Insurance Company on Wednesday posted 7.5 per cent rise in standalone net profit to Rs 308.69 crore for the second quarter ended September 30. The company's net profit in the year-ago period stood at Rs 286.98 crore.

Total income of the insurance firm rose to Rs 8,661.56 crore from Rs 7,902.10 in the same quarter a year ago, HDFC Life said in a regulatory filing. The asset under the management of insurance firm rose to Rs 1.3 lakh crore.

"We have delivered strong performance across all key metrics and have continued to sustain our profitability. Despite a challenging macro-environment, we have grown by 35 per cent on individual weighted received premium, compared to industry growth of 11 per cent," HDFC Life Insurance Managing Director Vibha Padalkar said.