HDFC Life Insurance Q3 Result :HDFC Life Insurance has released the results for the third quarter of the financial year 2024-25. The company has registered a net profit of Rs 415 crore, an increase of 14%, which was Rs 365 crore in the same quarter last year. However, there has been a decline of 36.64% in the total income of the company, which has come down to Rs 16,914 crore, whereas it was Rs 26,694 crore in the same period last year.
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Net profit increased, income declined
HDFC Life has recorded strong net profit in this quarter, but there was a big decline in total income. The company’s solvency ratio also declined from 190% to 188%, although it is still well above the regulatory requirement of 150%. Commenting on the performance, Vibha Padalkar, Managing Director and CEO, HDFC Life, said, “We have achieved a strong growth of 22% in 9 months, which is much higher than the industry average growth of 14%. The number of policies during this period There has been an increase of 15%, which is better than the private sector’s growth rate of 9%.”
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Increase in assets under management
The company has registered an 18% growth in its Assets Under Management (AUM) in 9 months, which now stands at Rs 3.29 lakh crore, compared to Rs 2.80 lakh crore in the same period last year. Apart from this, Value of New Business (VNB) has also increased by 14% to Rs 2,586 crore, which was earlier Rs 2,267 crore.
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Focus on future strategy
The company has also registered a growth of 28% in the Retail Protection segment. Vibha Padalkar said, “We are rapidly adjusting our strategies to market changes. We remain focused on long-term value creation for our stakeholders by continuing to invest in distribution network, technology and customer-focused products. Are.”
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While HDFC Life has registered strong growth in net profit, the decline in total income is a matter of concern. However, better performance can be expected in the future through the company’s long-term strategies and product innovation. The increase in the company’s assets under management and value of new business points towards its positive direction.
