Stocks

HDFC Life Insurance shares gain nearly 4 per cent after Q1 earnings

PTI New Delhi | Updated on July 23, 2019 Published on July 23, 2019

At the NSE, shares went up by 3.53 per cent to close at Rs 508

Shares of HDFC Life Insurance Company rose by nearly 4 per cent on Tuesday after the company reported 12 per cent rise in its standalone net profit for the first quarter ended June 30.

The scrip gained 3.69 per cent to close at Rs 508.60 on the Bombay Stock Exchange (BSE). During the day, it jumped 4.28 per cent to Rs 511.50 - its 52-week high.

At the National Stock Exchange (NSE), shares went up by 3.53 per cent to close at Rs 508.

In terms of traded volume, 6.06 lakh shares were traded on the BSE and over one crore shares on the NSE during the day.

HDFC Life on Tuesday reported an increase of 12 per cent in its standalone net profit to Rs 425 crore for the first quarter this fiscal.

The company had posted a net profit of Rs 380 crore during the similar quarter a year ago.

Total premium rose 29 per cent to Rs 6,536 crore during the quarter as compared with Rs 5,058 crore in the year-ago period, HDFC Life said in a release.

Published on July 23, 2019
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