SBI Life Insurance Q3 earnings: Net profit rises 71%, premium income at Rs 24,827 crore
SBI Life Insurance reported a 71 per cent year-on-year (YoY) rise in net profit to Rs 550.82 crore in the December 2024 quarter of financial year 2025 (Q3FY25)
- Jan 17, 2025,
- Updated Jan 17, 2025 4:20 PM IST
SBI Life Insurance Company Ltd, the largest private sector life insurer, reported a 71 per cent year-on-year (YoY) rise in net profit to Rs 550.82 crore in the December 2024 quarter of financial year 2025 (Q3FY25) from Rs 321.75 crore in the corresponding period a year ago. Net premium income climbed 11.25% to Rs 24,827 crore in Q3 against Rs 22,316.4 crore in the third quarter of the previous fiscal.
SBI Life's net worth rose 15% to Rs 16,590 crore as on December 31, 2024 from Rs 14,430 crore as on December 31, 2023.
It reported a strong solvency ratio of 2.04 as on December 31, 2024 as against the regulatory requirement of 1.50, indicating strong financial position, the company said.
Operating expenses climbed 9.43% to Rs 1158.74 crore in Q3 against Rs 1058.82 crore in Q3 of the previous fiscal.
The earnings were announced after market hours today. SBI Life Insurance stock closed 1.76% higher at Rs 1,540.50 on BSE. Market cap of the firm rose to Rs 1.54 lakh crore.
SBI Life Insurance Company Ltd, the largest private sector life insurer, reported a 71 per cent year-on-year (YoY) rise in net profit to Rs 550.82 crore in the December 2024 quarter of financial year 2025 (Q3FY25) from Rs 321.75 crore in the corresponding period a year ago. Net premium income climbed 11.25% to Rs 24,827 crore in Q3 against Rs 22,316.4 crore in the third quarter of the previous fiscal.
SBI Life's net worth rose 15% to Rs 16,590 crore as on December 31, 2024 from Rs 14,430 crore as on December 31, 2023.
It reported a strong solvency ratio of 2.04 as on December 31, 2024 as against the regulatory requirement of 1.50, indicating strong financial position, the company said.
Operating expenses climbed 9.43% to Rs 1158.74 crore in Q3 against Rs 1058.82 crore in Q3 of the previous fiscal.
The earnings were announced after market hours today. SBI Life Insurance stock closed 1.76% higher at Rs 1,540.50 on BSE. Market cap of the firm rose to Rs 1.54 lakh crore.