"One of the key factors is our back book profits and our costs which have been in control. Our back book profits have increased by 18 percent (in Q4FY24) from last year.
Also, our new business growth has been a lot better than what we had expected on a normalised basis supporting good delivery of profits," said Vibha Padalkar, managing director and chief executive officer, HDFC Life Insurance Sequentially, the net profit increased by 12.76 percent from ₹365.06 crore in the third quarter of FY24.
During the reported quarter, the value of new business (VNB) margin contracted to 26.10 percent from 29.30 percent in Q4FY23 owing to the high base effect after the removal of tax benefits on the high value life insurance policies.
the budget "Despite changes impacting high ticket sized business this year, we delivered a healthy growth of 20 percent for Q4 after adjusting for the one-off business of ₹1,000 crore in March 2023.
Bu hikaye Business Standard dergisinin April 19, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye Business Standard dergisinin April 19, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Giriş Yap
Cement stocks may remain tepid in near term
Likely weak demand over the next few months as the monsoon season gathers pace, coupled with no price hikes, may keep cement stocks tepid in the near term, believe analysts. As a strategy, however, they suggest investors accumulate related stocks on dips, encashing benefits of a rebound in the second half of the current financial year.
No poll jitters for MF scheme launches
Fund houses to provide better entry points after June 4
Scramble for ERP licence as doubts linger on mkt size
About a dozen players dive into the fray
Sunil Chhetri, Indian football's brightest star, to hang up his boots
World Cup qualifier against Kuwait on June 6 will be his last game
WATERED DOWN
As Bengaluru segues from a parched summer to torrential rains, citizen groups and authorities evaluate the city's future as India's IT capital
SUV sales drive M&M profit to beat estimates
Mahindra and Mahindra (M&M) has reported a 4 per cent jump in consolidated net profit for the fourth quarter of the 2023-24, riding on a 9 per cent year-on-year (Y-o-Y) growth in revenue to ₹35,452 crore.
Vi Q4 loss rings louder on higher finance cost
Arpu, revenue rise marginally; telco sees 4G subscriber base grow
Regulatory fee or unjust enrichment?
Regulators are empowered to levy fees for services rendered, not to impose tax-like levies to create surpluses for themselves
Netflix nears deal for NFL games, extending focus on sports events
Netflix Inc will air two National Football League games this Christmas Day, in the streaming TV giant's latest push into live events.
Xi, Putin call for political solution’ to Ukraine war
Both leaders warned of growing nuclear tensions between rival powers
