HDFC Life Q1FY22 Results: PAT down 33% YoY at Rs 302 cr on higher claim settlements; 70,000 insurance claims paid for, gross claims worth Rs 1,598 cr in June quarter
HDFC Life Q1FY22 Results – HDFC Life Insurance Company Limited today posted a net profit of Rs 302 cr for the quarter ended Q1FY22 which was down by almost 33 per cent from the PAT (Profit After Tax) in Q1FY21 at Rs 451 cr. The lower PAT is on the back of higher claims reserving towards heightened claims intimation expected in Q2 and Q3, the company has said in its exchange filing
MD and CEO Vibha Padalkar: HDFC Life clocked 40 per cent growth in terms of value of new business and we achieved a New Business Margin of 26.2 per cent in Q1