SBI LIFE Q4 PROFIT RISES 4% TO RS 811 CRORE

SBI Life Insurance has announced a 4% increase in net profit for the fourth quarter ended March 2024, amounting to Rs 811 crore, driven by modest growth in the value of new business. This compares to a net profit of Rs 777 crore in the same quarter of the previous year. Total income for the quarter rose to Rs 37,567 crore from Rs 22,805 crore in the corresponding period of the previous fiscal.

Net premium income for Q4FY24 stood at Rs 25,116 crore, up from Rs 19,897 crore in the year-ago period. For the full fiscal year 2023-24, the company's net profit increased by 10% to Rs 1,890 crore compared to Rs 1,720 crore in the previous year. Total income for the year surged to Rs 1,32,631 crore from Rs 81,598 crore in the previous fiscal.

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