Views On HDFC Life Insurance Company Ltd. Q4 FY24 Result First Cut - Stable performance; Net profit beats estimates by Shreyansh Shah, Research Analyst, StoxBox

Below the Quote on HDFC Life Insurance Company Ltd. Q4 FY24 Result First Cut - Stable performance; Net profit beats estimates by Shreyansh Shah, Research Analyst, StoxBox
- Total Annualized Premium Equivalent (APE) was flat at Rs. 13,291 crores for FY24 compared to Rs. 13,336 crores in FY23. For the quarter, the APE stood at Rs. 4,727 crores as against Rs.5,162 crores in the previous year, declining 8.4%.
- PAT was up by 34.4% QoQ / up 13.7% YoY to Rs. 411.6 crores in Q4FY24. For the full year, the PAT increased 15% to 1,569 crores from 1,360 crores.
- The company’s Assets under Management (AUM) stood at Rs. 2,92,220 crores for FY24, registering a 22.0% growth compared to the AUM of Rs. 2,38,782 crores for FY23.
- New Business Margin stood at 26.3% in FY24 which declined from 27.6% in comparison to the previous year.
- Company’s 13-month persistency ratio increased to 86.2% in Q4FY24 compared to a year ago period of 85.3%, while the 61st-month persistency ratio was marginally down at 52.0%% for Q4FY24 compared to 52.5% in Q4FY23. For the full year, the 13-month/61-month persistency ratios stood at 87% / 53%, respectively.
- In FY24, the solvency ratio declined to 187% against the solvency ratio of 203% in FY23.
- In the Individual WRP category, market share marginally declined to 10.4% in FY24 compared to 10.8% in FY23. In its overall new business premium, market share increased to 8.0% in FY24 compared to 7.9% in FY23.
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