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Hdfc Life Q4 Results: Pat Rises 12% To ₹357 Cr; Board Approves Dividend

On Tuesday, HDFC Life shares were higher by 1.63% in noon deals at  ₹548.80 apiece on NSE.
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HDFC Life Insurance Company on Tuesday reported a consolidated net profit of 357 crore for the quarter ended March, up 13% as compared to 317 crore reported in the last year period.

The company’s board has recommended a final dividend of 1.70 tax for 2022.

“We clocked a growth of 16% in individual WRP in FY22 with a market share of 14.8% and 9.3% in the private and overall sector respectively. We continue to deliver consistent all-round performance and be ranked among the top three life insurers in the industry. Despite very trying times during the 2 year pandemic, our 2 year CAGR of 17% was almost 2 times industry growth of 9%,” said HDFC Life MD and CEO Vibha Padalkar.

“Overall protection grew by 24% in terms of APE and 47% in terms of new business premium. This was largely led by a 55% growth in credit life new business premium, on the back of higher disbursements. On the retirement side, our annuity business recorded 24% growth vis-a-vis industry growth of 3%. Annuities now contribute over a fifth of our new business premiums, with us almost doubling our business in the last 3 years,” Vibha said.

On Tuesday, HDFC Life shares were higher by 1.63% in noon deals at 548.80 apiece on NSE.

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HDFC Life Insurance Q4 net profit up 12.4 per cent

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