HDFC Life was listed on the exchanges in November 2017
Private life insurance company HDFC Life Insurance posted a 40.4 percent rise in its net profit for the fourth quarter ended March 31, 2018 at Rs 346.86 crore compared to same quarter last fiscal. The new business premiums for FY18 saw a 32 percent growth and stood at Rs 11350 crore.
This was the first full quarter post the listing for which the insurer reported results. HDFC Life was listed in November 2017.
The insurer's individual annualised premium equivalent (APE) grew by 31 percent on a year-on-year basis.
Amitabh Chaudhry, MD & CEO, HDFC Life said the company will continue to have a specific focus on protection.
"The balanced product mix, diversified distribution network and customer centric approach has helped deliver profitable growth and thereby adding to shareholder value," he added.
A report by Spark Capital said they expect full year APE growth to be ~35 percent year-on-year for financial year 2017-18 (FY18).