HDFC Life Insurance Q3 net up 18%

HDFC Life Insurance has posted an 18.47 per cent increase in net profits for the third quarter of the fiscal despite low growth in income from investments.

Its net profits stood at Rs.245.63 crore for the quarter ended December 31, 2018, on the back of a healthy increase in premium income, compared to a net profit of Rs.207.32 crore in the third quarter of the previous fiscal.

Its net premium income grew by 27.3 per cent to Rs.6,897.68 crore in the quarter under review, compared to Rs.5,419.99 crore in the same period a year ago.

The growth in first-year premium was more muted at about 4.15 per cent for the third quarter this fiscal at Rs.1,252.34 crore, against Rs.1,202.36 crore in the same period a year ago.

However, income from investments almost halved by 43.9 per cent to Rs.2,384.85 crore for the October to December quarter this fiscal, from Rs.4,253.14 crore in the same period a year ago.