By Yifan Wang
HDFC Life Insurance Co. said Monday that its second-quarter net profit rose about 6.1%, thanks to sharply higher premium income and investment income.
The Indian insurer said net profit for the quarter ended September rose to 3.28 billion rupees ($44.7 million) from INR3.09 billion a year earlier. The result missed slightly the INR3.29 billion estimate from an S&P Global Market Intelligence poll of analysts.
Net premium income increased 35% to INR100.57 billion, while investment income surged nearly five times.
The company said more than 90% of its branches across the country have resumed operations, while its digital platforms and products have allowed it to "minimize the impact of the pandemic."
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
10-19-20 0723ET