HDFC Life's Q1 Profit Surges by 15%

HDFC Life reported a 15% increase in net profit to Rs 478 crore for Q1 FY25, up from Rs 415 crore in the same period last year. Total premium rose 10% to Rs 12,811 crore, and new business premium collection increased by 9%. However, solvency decreased to 186%, while assets under management saw a 22% rise.

HDFC Life on Monday reported a 15 per cent increase in net profit, reaching Rs 478 crore for the first quarter of the current fiscal year.

In comparison, the company had logged a profit of Rs 415 crore during the April-June period of FY24.

Total premium for the quarter rose by 10 per cent to Rs 12,811 crore, up from Rs 11,673 crore in the year-ago period, as detailed in a regulatory filing by HDFC Life.

During the latest quarter, the collection of new business premiums saw a 9 per cent uptick, reaching Rs 6,400 crore from Rs 5,869 crore in the same period the previous year.

The company's solvency ratio declined to 186 per cent from 200 per cent the same quarter last year.

Meanwhile, the asset under management (AUM) increased significantly by 22 per cent, totaling Rs 3,10,244 crore as against Rs 2,53,301 crore at the end of June 2023.