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( As on 22/01/2020 15:30) SBI Life Insurance Q3 net profit jumps 47.48% at Rs 389.77 cr

The company reported standalone net profit of Rs 389.77 crore for the quarter ended December 31, 2019 as compared to Rs 264.28 crore in the same period last year, registering a year-on-year growth of 47.48 per cent.

Net revenue of the company rose substantially by 64.41 per cent at Rs 270.74 crore in October-December quarter of this fiscal as against Rs 164.67 crore in the corresponding period last year.

During October-December quarter, operating expenses increased by 129.09 per cent to Rs 51.43 crore from Rs 22.45 crore in year ago period.

Other Income dipped by 26.07 per cent at Rs 1.56 crore versus (Dec'18 Rs 2.11 crore).

Operating Profit surged by 46.14 per cent to Rs 393.35 crore as against Rs 269.16 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 11.11 per cent in December quarter.

Taxation decreased by 26.47 per cent at Rs 5.14 crore (Dec'18 Rs 6.99 crore).
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