HDFC Life Insurance Company has announced its financial results for the quarter ended September 30, 2024, with significant growth across key metrics. The company posted strong performance both on a standalone and consolidated basis, with impressive year-over-year (YoY) and quarter-over-quarter (QoQ) growth.
HDFC Life reported a gross premium income of Rs 1,692.74 crore, a YoY increase of 12% from Rs 1,514.88 crore in Q2 FY23-24 and a QoQ increase of 6% compared to Rs 1,596.21 crore in Q1 FY24-25.
The net premium income for Q2 stood at Rs 1,565.40 crore, reflecting a YoY growth of 15% from Rs 1,363.24 crore in the previous year.
The company reported a standalone PAT of Rs 43.29 crore, up by 15% YoY from Rs 37.68 crore, and a slight QoQ decrease from Rs 47.76 crore in Q1 FY24-25.
On a consolidated basis, the net premium income increased to Rs 1,684.21 crore, a 12% rise YoY. The PAT for the consolidated entity was Rs 91.06 crore for H1 FY24-25, marking a YoY increase of 14.9%.
HDFC Life’s investment income saw a sharp rise with Rs 2,573.51 crore in Q2 FY24-25, up from Rs 1,973.31 crore in Q2 FY23-24. The consolidated investment income reached Rs 52.6 crore, demonstrating a 12% growth compared to the same period last year.