HDFC Life Shares Soar 10% on Strong Q3 Earnings

16 Jan 2025 , 11:28 AM

Following the company’s announcement of a 15% increase in its consolidated December quarter net profit at Rs 421.31 crore compared to Rs 367.54 crore recorded in the same period last year, HDFC Life Insurance Company shares surged 9.5% in early trading to reach an intraday high of Rs 651.10 on January 16.

In the meantime, net premium income increased by 10% to Rs 16,832 crore in Q3FY25 from Rs 15,273 crore in the same quarter of the prior fiscal year.

HDFC Life’s record-strong individual annual premium equivalent (APE) rise of 24% was the catalyst for the company’s PAT surge.

When compared to the same time last year, HDFC Life’s net profit increased by 14% year over year to Rs 415 crore from Rs 365 crore. The net premium income increased from Rs 15,235 crore in the same time last year to Rs 16,771 crore in the aforementioned quarter.

MD & CEO Vibha Padalkar commented on the company’s Q3 performance, stating that it had a solid 22% growth based on individual WRP for 9MFY25, above the 14% growth of the industry as a whole. “Over this time, we have seen an increase in both ticket size and volume. Outpacing the 9% rise in the private sector, the number of insurances has increased by 15%. The growth of retail protection is still strong. For nine months, retail protection APE increased by 28%, she noted.

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