SBI Life Q2 Results 2024

SBI Life Q2 Results 2024: Profit Rises by 39%

SBI Life Q2 Results FY25 declared around a 39% increase in consolidated net profit on the year-on-year (YoY) basis. The net profit in Q2 FY25 was ₹529 crores higher than ₹380 crores profit of Q2 FY24. SBI Life Q2 result date was October 23, 2024. In the last 1 day, SBI Life share price has given a negative return between 1% to 2%. (as on October 25, 2024)

SBI Life Q2 FY25 Result: Revenue and Profit

Here are the details of the SBI Life Insurance Q2 results​ for FY25 and its YoY growth:

  • Total Revenue of ₹40,301.73 crores in Q2 FY25, up 39.91% YoY from ₹28,804.64 crores in Q2 FY24
  • Total Opex of ₹39,361.42 crores in Q2 FY25, up 40.52% YoY from ₹28,010.84 crores in Q2 FY24
  • Net Profit of ₹529.42 crores in Q2 FY25, up 39.25% YoY from ₹380.19 crores in Q2 FY24
  • EPS of ₹5.08 in Q2 FY25, up 29.95% YoY from ₹3.91 in Q2 FY24

SBI Life Q2 Results: Key Performance Metrics

According to the SBI Life Insurance Q2 results FY25, the company’s net premium income was ₹20,266 crores in Q2 FY25 and it rose by 1% YoY.

The first-year premium was ₹4,915 crores in Q2 FY25 and it grew by 6% YoY. The value of the new business was ₹2,420 crores and it grew by 2% YoY. The solvency ratio was 2.04% in Q2 FY25 and it was higher than the Q1 FY25 ratio of 2.01%.

Investment income in the Q2 FY25 was ₹19,753 crores and it rose by 132% YoY. As of September 30, 2024, the private life insurer’s AUM (Assets Under Management) was ₹4.38 lakh crores and it registered an increase of 27% on a year-on-year basis.

Conclusion

SBI Life Q2 results for FY25 posted good growth in revenue and profitability. Within the wide range of offerings, the life insurance company added new products catering to different age groups and income levels. The new products are Smart Scholar Plus for child education, Smart Elite Plus and Smart Privilege Plus for wealth creation, and Smart Shield Premier for protection. In the last 1-year, SBI Life share price has delivered a return of around 22% (as on October 25, 2024).

Keep exploring stocks and open demat account with SMC Global Securities. Stay tuned for the upcoming Nifty 50 companies’ quarterly results.

Reference
https://www.sbilife.co.in/sbi-life-analyst-presentation-oct-2024

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