HDFC Life Insurance Company Ltd.

HDFC Life Insurance reported results for fourth quarter (Q4) and year ended March 31, 2023.

HDFC Life Insurance has reported 0.32% rise in its net profit at Rs 358.66 crore for the quarter under review as compared to Rs 357.52 crore for the same quarter in the previous year. Net premium income of the company increased by 35.95% at Rs 19,426.57 crore for Q4FY23 as compared to Rs 14,289.66 crore for the corresponding quarter previous year.

On consolidated basis, the company has reported 28.49% fall in its net profit at Rs 361.97 crore for fourth quarter ended March 31, 2023 as compared to Rs 506.19 crore for the same quarter in the previous year. However, net premium income of the company increased by 24.60% at Rs 19,468.60 crore for Q4FY23 as compared to Rs 15,624.90 crore for the corresponding quarter previous year.

For the year ended March 31, 2023, the company has reported 12.62% rise in its net profit at Rs 1,360.13 crore as compared to Rs 1,207.69 crore for the previous year. Net premium income of the company increased by 25.04% at Rs 56,764.01 crore for year under review as compared to Rs 45,396.46 crore for year ended March 31, 2022.

For the year ended March 31, 2023, on the consolidated basis, the company has reported 3.12% rise in its net profit at Rs 1,368.28 crore as compared to Rs 1,326.93 crore for the previous year. Net premium income of the company increased by 21.53% at Rs 56,878.78 crore for year under review as compared to Rs 46,800.95 crore for year ended March 31, 2022.