HDFC Life Insurance Q1FY23 Results: Income fall 62.2% to ₹6,680.2 Cr, PAT crashes 35% to ₹328.7 Cr QOQ

1. 22% growth in total APE; Maintained top 3 ranking amongst life insurers 2. 31% growth in Protection APE; 96% growth in group credit protect business 3. New business margins increased to 26.8%; 25% growth in Value of New Business 4. 21% growth in PAT to ₹365 crore 5. Assets under management: AUM of over ₹2 lakh crore (Debt: Equity mix 65:35); around 99% of debt investments in G-Secs and AAA bonds 6. Solvency ratio at 178% as on Q1FY23, 176% on Q4FY22 and 203% as on Q1FY22.

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HDFC Life Insurance Company Ltd. (HDFC Life) is a long-term life insurance provider with its headquarters in Mumbai, offering individual and group insurance services and incorporated on 14 August 2000. As on 31 March 2020, the promoters; HDFC Ltd. and Standard Life (Mauritius Holdings) 2006 Ltd. hold a 51.69% and 34.75% stake in HDFC Life (BSE link) respectively. The remaining equity is held by public shareholders.

The Insurance company has posted its Q1FY23 financial results today, the details are as below :

(I) Unaudited Consolidated Financial Results for Quarter Ended (QOQ comparison):

The company has reported, a consolidated Total Income of ₹6,680.20 crore in the quarter ended on June 30, 2022 as against ₹17,682.31 crore in the last quarter ended on Mar 31, 2022, decreased by 62.22%.

The company has posted a consolidated Net Profit of ₹328.79 crore in the quarter ended on March 31, 2022 as against ₹506.19 crore in the previous quarter ended on June 30, 2022. The PAT surges down by 35.05%.

The status of the EPS of the company stood at ₹1.56 as on March 31, 2022 compared to the previous quarter ended on June, 2022 which was ₹2.47, down by 36.84%.

₹*June 30, 2022 (Q1FY23)Mar 31, 2022 (Q4FY22)
Total Income6,680.2017,682.31
Total Expenses6432.4017,014.05
PBT /(Loss)330.36472.84
Total Tax /(credit)1.57(33.35)
PAT /(Loss) [to the owners]328.79506.19
*figures are in Crores

(I) Unaudited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹6,680.20 crore in the financial year ended on June 30, 2022 as against ₹14,628.05 crore for the same quarter ended on last year June 30, 2021 that decreased by 54.33%.

The company has posted a consolidated Net Profit of ₹328.79 crore in the financial year ended on June 30, 2022 as against ₹269.55 crore for the same quarter ended on last year June 30, 2021. The PAT surges up by 21.98%.

The status of the EPS of the company stood at ₹1.56 as on June 30, 2022 compared to the quarter ended on last year June 30, 2021 which was ₹1.33, up by 17.29%.

₹*June 30, 2022 (Q1FY23)June 30, 2021 (Q1FY22)
Total Income6.680.2014,628.05
Total Expenses6432.4014602.44
PBT /(Loss)33.36274.15
Total Tax /(credit)1.574.60
PAT /(Loss) [to the owners]328.79269.55
*figures are in Crores
hdfc life insurance company q1fy23 result – Market Times

(III) Key Highlights about the Performance :

hdfc life ratio chart 1 / *₹ Billion – hdfc q1fy23 results
hdfc life ratio chart 2/ *₹ Billion – hdfc q1fy23 results
  • 22% growth in total APE; Maintained top 3 ranking amongst life insurers
  • 31% growth in Protection APE; 96% growth in group credit protect business
  • New business margins increased to 26.8%; 25% growth in Value of New Business
  • 21% growth in PAT to ₹365 crore
  • Assets under management: AUM of over ₹2 lakh crore (Debt: Equity mix 65:35); around 99% of debt investments in G-Secs and AAA bonds
  • Solvency ratio at 178% as on Q1FY23, 176% on Q4FY22 and 203% as on Q1FY22.
hdfc life ratio chart 3 -hdfc q1fy23 results

hdfc life AUM – hdfc q1fy23 results
Market Times – market news

Shares of HDFC Life Insurance Company Limited was last trading in BSE at ₹543.25 as compared to the previous close of ₹539.70. The total number of shares traded during the day was 1300053 in over 1557 trades.

The stock last hit in BSE,

  • Intraday High of ₹ 544.60
  • Intraday low of ₹ 535.00