HDFC Life's Profit Surge: Stock Leaps 12%

HDFC Life's shares soared nearly 12% after announcing a 14% rise in net profit for the December quarter. Despite the profit increase to Rs 415 crore, total income fell, and the solvency ratio dropped slightly. The nine-month profit reached Rs 1,326 crore, an improvement from the previous year.

HDFC Life's shares experienced a significant boost on Thursday, climbing by nearly 12%, following the announcement of a 14% increase in net profit for the December quarter.

The firm's net profit rose to Rs 415 crore, a notable rise from Rs 365 crore in the previous year, as indicated by the company's regulatory filing on Wednesday.

Despite this profit surge, HDFC Life reported a decline in total income from Rs 26,694 crore to Rs 16,914 crore. Additionally, the solvency ratio slightly decreased to 188%, however, it remained above the 150% regulatory requirement.

(With inputs from agencies.)