Net income from investments tumbled 98.31% to Rs 192.09 crore in Q3 FY25 as compared to Rs 11,369.81 posted in same quarter last year.
Profit before tax stood at Rs 444.82 crore in the December 2024 quarter, registering a growth of 21.26% on YoY basis.
On nine month basis, the company's standalone net profit rose 14.55% to Rs 1,325.58 crore on 10.56% increase in net premium income to Rs 45,850.58 crore in 9M FY25 over 9M FY24.
Assets under management (AUM) jumped 18% YoY to Rs 3,286,800 crore during the nine months ended on 31 December 2024.
The value of new business (VNB) grew by 14% YoY to Rs 2,586 crore in 9M FY25.
The company's Indian embedded value (IEV) in 9M FY25 was at Rs 53,246 crore, registering a growth of 18% YoY.
The life insurer's new business margin fell to 25.1% in 9M FY25 as against 26.5% recorded in 9M FY24. The solvency ratio slipped to 188% in 9M FY25 from 190% recorded in 9M FY24.
A persistency ratio for the 13th and 61st months has improved to 87% and 61%, respectively. This represents a significant increase of 110 basis points and 780 basis points compared to the previous year, demonstrating the company's strong customer engagement and retention.
Vibha Padalkar, MD & CEO, said, “We have registered a healthy growth of 22%, based on individual WRP for 9MFY25, outpacing overall industry growth of 14%. We have witnessed both ticket size and volume expansion during this period. The number of policies has grown by 15%, outperforming the private sector's growth of 9%. Retail protection continues to grow well. Retail protection APE for nine months saw a growth of 28%.
We are committed to adapting to the evolving market landscape with agility and resilience. This includes continued investment in distribution, tech and customer-centric product innovations to deliver long-term value for our stakeholders.”
HDFC Life Insurance Company is a leading, listed, long-term life insurance solutions provider in India, offering a range of individual and group insurance solutions that meet various customer needs such as protection, pension, savings, investment, annuity, and health. The company has more than 80 products (including individual and group products) and optional riders in its portfolio, catering to a diverse range of customer needs.
The scrip shed 0.99% to settle at Rs 594.25 on the BSE.