SBI Life Insurance
reported a 5% yoy rise in PAT at Rs372cr due to a 52% yoy rise in new business premium in Q1FY20.
Shares of the company were trading up 2% in opening trade.
The company's pure term insurance new business premium collection more than doubled at Rs436cr.
SBI Life’s AUM also grew at 22% yoy to Rs1,46,954cr as on June 30, 2019.
The 13th month persistency improved by 200bps yoy to 84.46% in Q1.
The Value of New Business (VoNB) increased 49% yoy to Rs371cr.
SBI Life Insurance Company Ltd is currently trading at Rs787 up by Rs10.9 or 1.4% from its previous closing of Rs776.10 on the BSE.
The scrip opened at Rs782.20 and has touched a high and low of Rs789.90 and Rs782 respectively. So far 58,245 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs77,610cr.