HDFC Life Shares Surge as Profits Rise Despite Income Dip

HDFC Life's shares rose by 8% following a 14% increase in net profit to Rs 415 crore for the December quarter. Despite this, the company's total income saw a decline, and the solvency ratio dropped slightly. The insurer reported a profit of Rs 1,326 crore for the nine-month period ending December.

Shares of HDFC Life Insurance soared by 8% on Thursday after the company announced a 14% increase in net profit for the December quarter, reaching Rs 415 crore.

The stock closed at Rs 641.30 on the BSE, marking a 7.92% increase, with an intra-day high of Rs 660.55. At the NSE, it hit Rs 641.70, up by 7.99%, after peaking at Rs 663.60 during trading hours.

However, the insurer faced challenges with a decline in total income to Rs 16,914 crore compared to the previous year's Rs 26,694 crore and a slight reduction in the solvency ratio to 188%.

(With inputs from agencies.)