HDFC Life Insurance Q3 net profit up 5.89% at Rs 264.99 cr
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The company reported standalone net profit of Rs 264.99 crore for the quarter ended December 31, 2020 as compared to Rs 250.24 crore in the same period last year, registering a year-on-year growth of 5.89 per cent. Net revenue of the company declined moderately by 17.35 per cent at Rs 139.76 crore in October-December quarter of this fiscal as against Rs 169.10 crore in the corresponding period last year.
During October-December quarter, operating expenses dropped by 16.32 per cent to Rs 15.49 crore from Rs 18.51 crore in year ago period. Operating Profit surged by 1.29 per cent to Rs 267.00 crore as against Rs 263.61 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 22.55 per cent in December quarter. Taxation decreased by 84.97 per cent at Rs 2.01 crore (Dec'19 Rs 13.37 crore).
