SBI Life Insurance Q4 Net Profit Up 15% YoY

SBI Life Insurance

SBI Life Insurance has reported a 15% YoY increase in net profit at Rs 780 crore for the fourth quarter that ended on March 31, 2023. This is compared to a net profit of Rs 680 crore in the same quarter last year, according to the private sector insurer’s regulatory filing on Wednesday. The value of new business (VoNB) for the March quarter increased by 23% to Rs 1,440 crore, up from Rs 1,174 crore a year ago. The growth in net profit and VoNB is a positive sign for SBI Life Insurance, which has been expanding its customer base and launching new products to stay competitive in the industry.