SBI Life Insurance net profit spikes ~48% yoy in Q3FY20

SBI Life Insurance net profit spikes ~48% yoy in Q3FY20

SBI Life Insurance reported a 3% yoy rise in PAT at Rs890cr in M9FY20 and ~Rs395cr in Q3FY20, up 47.5% yoy.

Value of new business (VNB) stood at 1,650cr in the nine months ended Dec 31, 2019, indicating a growth of 27% yoy.

The company has achieved market leadership based on New Business Premium (NBP), Individual New Business Premium and Individual Rated Premium in 9MFY20.
The company has increased its private market share based on New Business Premium (NBP) from 20% in 9MFY19 to 22.3% in 9MFY20.
The Company has registered growth in savings and protection business reflecting balanced product mix. Total protection new business premium has increased by 37% from Rs1,060cr in 9MFY19 to Rs1,440cr in 9MFY20.

SBI Life Insurance Company Ltd is currently trading at Rs979 up by Rs5.95 or 0.61% from its previous closing of Rs973.05 on the BSE.

The scrip opened at Rs966.10 and has touched a high and low of Rs992.75 and Rs966.10 respectively. So far 13,36,440 (NSE+BSE) shares were traded on the counter. The current market cap of the company is Rs97,305.38cr.

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