SBI Life Q4 results: Net profit rises by 15% YoY basis; dividend of Rs 2.50/share announced

SBI Life has reported a jump of 15 per cent in its net profit as the profit rose to Rs 777 crore for the quarter ended March, as compared to Rs 672 crore in the same quarter of last year. 

The net premium income for this quarter also witnessed a rise of 14 per cent to Rs 19,897 crore as against Rs 17,434 in the year-ago period. 

The company has also announced an interim dividend of Rs 2.50 per share. The value of new business (VoNB) in the March 2022 quarter has been up by 23 per cent to Rs 1,440 crores, as against Rs 1,174 crore in the year-ago period.

The gross written premium (GWP) for the company also witnessed a jump as it surged by 15 per cent on Y-o-y basis to Rs 67,320 crores.

The annualised premium equivalent (APE) in the fourth quarterfor SBI Life stood at Rs 4,550 crore, thereby reporting a jump of  10 per cent as against Rs 4,130 crore in Q4FY22. For this fiscal, APE rose  by 18 percent to Rs 16,810 crores. On the other hand, the protection new business premium rose 19 percent to Rs 3,640 crore.

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