HDFC Life Insurance was last trading 3.58 per cent lower at Rs 679.50 on the BSE.Share Price ofHDFC Life Insurance edged lower by around four per cent on Tuesday, April 27, after reporting its January-March quarter results for the financial year 2020-21.
On Tuesday,HDFC Life Insurance opened on the BSE at Rs 710, touching an intra day high of Rs 719, and an intra day low of Rs 678, in the trading session so far.HDFC Life Insurance Company reported a consolidated profit of Rs 319.06 crore in the fourth quarter of fiscal 2020-21.
The company's net premium income increasedto Rs12,869.55 crore from Rs10,475.95 crore in the year-ago period.The value of the new business or VNBwent up14 per cent to Rs 2,185 crore, on the back of consistent growth, balanced product mix, as well as cost efficiencies.
These factors helped in translating to new business margin of 26.1 per cent.Leading brokerage firm Motilal Oswal said in its report thatHDFC Life Insurance remains focused on maintaining a balanced product mix across itsbusiness, with an emphasis on product innovation, as well assuperior customer service.''However, in the near term, the Non-PAR and PAR segments are likely to see healthy growth, while ULIP also continues to recover.
However, we remain watchful of the impact of lockdown announced in various key states due to resurgence in COVID-19 cases.
Overall, we estimate VNB margins to reflect stable trends and estimate operating RoEV to remain healthy at 18% over FY23E,'' said Motilal Oswal in its report.Meanwhile, on the NSE, HDFC Life Insurance opened at Rs 711.05, touching an intra day high of Rs 719, and an intra day low of Rs 678, in the session so far.
On the NSE, it was last trading 3.56 per cent lower at Rs 679.35 apiece.HDFC Life Insurance was last trading 3.58 per cent lower at Rs 679.50 apiece on the BSE.