SBI Life Insurance shares gain on 26% rise in Q4 premium income
SBI Life shares gained 3.18% to Rs 1460.35 against the previous close of Rs 1415.25 on BSE. Market cap of the firm rose to Rs 1.45 lakh crore.
- Apr 29, 2024,
- Updated Apr 29, 2024 10:04 AM IST
Shares of SBI Life Insurance rose over 3% in early deals on Monday after the firm announced its earnings for the quarter ended March 2024. SBI Life shares gained 3.18% to Rs 1460.35 against the previous close of Rs 1415.25 on BSE. Market cap of the firm rose to Rs 1.45 lakh crore.
The firm reported a 4.3% year-on-year (YoY) rise in profit for the quarter ended March 2024 to Rs 811 crore against Rs 777 crore reported in the corresponding quarter of the previous financial year. Net premium income in Q4 climbed 26% YoY to Rs 25,116 crore.
Total 3.74 lakh shares of the firm changed hands amounting to a turnover of Rs 54.32 crore on BSE. Shares of SBI Life Insurance are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day but higher than the 150 day and 200 day moving averages.
In a year, the stock has gained 27.20 per cent and risen 1.24 per cent this year.
The stock hit a 52-week low of Rs 1129.55 on April 28, 2023 and a 52 week high of Rs 1571.95 on February 29, 2024. The company recorded individual rated premium of Rs 17230 crore with 23.3% private market share in FY24.
Individual New Business Premium grew 14% to Rs 23,830 crore in FY24 while the New Business Premium (NBP) grew by 29% to Rs 38,240 crore.
Total assets under management rose 27% to Rs 3,88,920 crore as on March 31, 2024 from Rs 3,07,340 crore as on March 31, 2023 with debt-equity mix of 64:36. Over 95% of the debt investments are in AAA and sovereign instruments.
Shares of SBI Life Insurance rose over 3% in early deals on Monday after the firm announced its earnings for the quarter ended March 2024. SBI Life shares gained 3.18% to Rs 1460.35 against the previous close of Rs 1415.25 on BSE. Market cap of the firm rose to Rs 1.45 lakh crore.
The firm reported a 4.3% year-on-year (YoY) rise in profit for the quarter ended March 2024 to Rs 811 crore against Rs 777 crore reported in the corresponding quarter of the previous financial year. Net premium income in Q4 climbed 26% YoY to Rs 25,116 crore.
Total 3.74 lakh shares of the firm changed hands amounting to a turnover of Rs 54.32 crore on BSE. Shares of SBI Life Insurance are trading lower than the 5 day, 10 day, 20 day, 30 day, 50 day, 100 day but higher than the 150 day and 200 day moving averages.
In a year, the stock has gained 27.20 per cent and risen 1.24 per cent this year.
The stock hit a 52-week low of Rs 1129.55 on April 28, 2023 and a 52 week high of Rs 1571.95 on February 29, 2024. The company recorded individual rated premium of Rs 17230 crore with 23.3% private market share in FY24.
Individual New Business Premium grew 14% to Rs 23,830 crore in FY24 while the New Business Premium (NBP) grew by 29% to Rs 38,240 crore.
Total assets under management rose 27% to Rs 3,88,920 crore as on March 31, 2024 from Rs 3,07,340 crore as on March 31, 2023 with debt-equity mix of 64:36. Over 95% of the debt investments are in AAA and sovereign instruments.