“The shift in product mix and positive play of operating leverage led to VNB margin expanding 550 bps YoY to 29.8 per cent, resulting in 104 per cent YoY growth absolute VNB,” analysts at SBICAP Securities said in result review.
The management has guided for strong APE growth in the next 9 months, depicting its confidence of continuing strong growth in the non-par segment in near to medium term. It expects other segments to catch up and product mix to rationalize in coming quarters of FY20, it added.
offers a range of individual and group insurance solutions that meet various customer needs such as protection, pension, savings, investment, annuity and health.
At 09:39 am, HDFC Life
was trading 2 per cent higher at Rs 520 on the BSE, as compared to a 0.17 per cent decline in the S&P BSE Sensex. A combined 2.2 million shares have changed hands on the counter on the BSE and NSE so far.
Thus far in the calendar year, the stock has outperformed the market by surging 37 per cent as against a 5 per cent rise in the benchmark index.