HDFC Life Insurance Company on Thursday reported a consolidated profit after tax of Rs 418.2 crore in the December 2025 quarter (Q3 FY26), largely flat compared to Rs 421.3 crore in the year-ago period. The insurer's net premium income for the quarter rose to Rs 18,351 crore from Rs 16,832 crore in Q3 FY25, driven by growth across the first-year, renewal, and single-premium segments, HDFC Life said in a regulatory filing. The earnings were in line with Street estimates.
The annual premium equivalent grew 11% YoY to Rs 3974 crore, while the value of new business grew by 3% YoY to Rs 930 crore. APE signifies revenue growth for the company and the value of new business is a measure of profitability on the new business of the company. Total income surged to Rs 29,157.6 crore during the quarter, from Rs 16,979.3 crore a year earlier. VNB margin degrew by 205 bps at 24%.
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In a post-earnings concall, the management said that it expects the momentum to be sustained in Q4. The retail protection grew by 42%, outpacing the company growth. The protection share increased from 7% to 9% and is likely to grow faster going forward. MFI saw a pickup in growth driven by a lower base and the GST impact is 200 basis points compared to estimates of 300 basis points. It added that the abour code is a one time impact and will not have any impact in the coming quarters. The GST rate cut impact will be lower than 200 basis points going forward, according to the management. From Q1FY27, the GST rate cut impact will be negligible, it added.
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