Never miss a great news story!
Get instant notifications from Economic Times
AllowNot now


You can switch off notifications anytime using browser settings.
11,872.1031.65
Stock Analysis, IPO, Mutual Funds, Bonds & More

SBI Life Q2 net falls 48% to Rs 130 crore

The company's total premium income during July-September rose to Rs 12,745.38 crore as against Rs 9,638.27 crore in the year-ago period, SBI Life said in a regulatory filing.

PTI|
Oct 15, 2019, 09.15 PM IST
0Comments
Getty Images
Fall-decline---Getty
Assets under management grew 23 per cent to Rs 1,54,760 crore as on September 30, 2019 from Rs 1,26,170 crore as on September 30, 2018 with debt-equity mix of 77:23.
SBI Life Insurance on Tuesday reported over 48 per cent decline in its net profit at Rs 129.84 crore in the second quarter ended September of the current fiscal year (2019-20). The life insurer had registered a net profit of Rs 250.53 crore in the corresponding July-September period of previous fiscal 2018-19.

The company's total premium income during July-September rose to Rs 12,745.38 crore as against Rs 9,638.27 crore in the year-ago period, SBI Life said in a regulatory filing.

The company said its new business premium (NBP) rose 40 per cent to Rs 7,820 crore in the second half of the current fiscal as against Rs 5,570 crore in the year-ago period.

It said the company showed strong 13th month persistency of 85.81 per cent in first half of 2019-20 as compared to 83.20 per cent a year ago, while 49th month persistency improved to 67.94 per cent in the first half as against 64.36 per cent a year ago.

Assets under management grew 23 per cent to Rs 1,54,760 crore as on September 30, 2019 from Rs 1,26,170 crore as on September 30, 2018 with debt-equity mix of 77:23.

Shares of SBI Life closed 1.34 per cent higher at Rs 839.65 on the BSE on Tuesday.

Also Read

Novelis cushions Hindalco Q2 performance

Hero MotoCorp's Q2 profit falls 10% but still beats estimates: Top Q2 takeaways

Realisation for financial creditors at 34% in Q2

Arvind Q2 profit at Rs 50 crore

Infosys trades with gains ahead of Q2 result

Comments
Add Your Comments
Commenting feature is disabled in your country/region.
Download The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.

Other useful Links


Follow us on


Download et app


Copyright © 2019 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service