HDFC Life Insurance Company Ltd reports consolidated PAT of Rs. 450.54 crore in Q1FY21

HDFC Life Insurance Company Ltd has reported financial results for the period ended June 30, 2020.

Financial Results (Q1 FY 2020-21) - QoQ Comparison

The company has reported total income of Rs.14520.83 crores during the period ended June 30, 2020 as compared to Rs.430.13 crores during the period ended March 31, 2020.

The company has posted net profit / (loss) of Rs.450.54 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.311.65 crores for the period ended March 31, 2020.

The company has reported EPS of Rs.2.23 for the period ended June 30, 2020 as compared to Rs.1.54 for the period ended March 31, 2020.

Financials	Q1 FY2020-21	Q4 FY19-20	% Change
Total Income	₹ 14520.83 crs	₹ 430.13 crs	3275.92%
Net Profit	₹ 450.54 crs	₹ 311.65 crs	44.57%
EPS	₹ 2.23	₹ 1.54	44.81%

Financial Results (Q1 FY 2020-21) - YoY Comparison

The company has reported total income of Rs.14520.83 crores during the period ended June 30, 2020 as compared to Rs.8541.96 crores during the period ended June 30, 2019.

The company has posted net profit / (loss) of Rs.450.54 crores for the period ended June 30, 2020 as against net profit / (loss) of Rs.425.71 crores for the period ended June 30, 2019.

The company has reported EPS of Rs.2.23 for the period ended June 30, 2020 as compared to Rs.2.11 for the period ended June 30, 2019.

Financials	Q1 FY2020-21	Q1 FY2019-20	% Change
Total Income	₹ 14520.83 crs	₹ 8541.96 crs	69.99%
Net Profit	₹ 450.54 crs	₹ 425.71 crs	5.83%
EPS	₹ 2.23	₹ 2.11	5.69%

Commenting on the current situation, Ms. Vibha Padalkar, MD & CEO said "As the economy is coming to terms with the effects of the pandemic, we are increasingly witnessing encouraging on-ground trends. Business has started to pick up on a month-on-month basis and we are seeing higher traction, especially in the individual protection business. As the situation begins to normalise, we expect life insurance to emerge as an important avenue for both protection as well as long term savings, and consequently help attract a higher quantum of inflows from Indian households."

Commenting on the Q1 FY21 performance, Ms. Vibha Padalkar, MD & CEO said "We continue to exhibit resilient performance even in the current scenario. Our market share in terms of Individual WRP has increased by 100 basis points from 17.5% to 18.5%. Our calibrated approach of maintaining a balanced product mix has again enabled us to manoeuvre through a turbulent environment and adapt faster than the overall market. We remain well positioned to provide a sustainable value proposition to our customers, partners and shareholders in these challenging times."

Shares of HDFC Life Insurance Company Ltd was last trading in BSE at Rs.617.15 as compared to the previous close of Rs. 614.75. The total number of shares traded during the day was 228773 in over 8311 trades.

The stock hit an intraday high of Rs. 628 and intraday low of 612.3. The net turnover during the day was Rs. 142098958.

Source : Equity Bulls

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