SBI Life Insurance shares increased 5% intraday on the BSE on Friday, setting a record high of Rs 1,777.40. The life insurance company’s stock was trading higher for the third day in a row and had increased by 11% after the company announced its impressive June quarter (Q1FY25) results.
In Q1FY25, SBI Life saw a 34.3% YoY rise in net profit, or Rs 519.52 crore, due to strong premium growth. In comparison to Q1FY24, its value of new business (VNB) grew by 12% YoY to Rs 970 crore in Q1FY25.
In any case, the company reported a decline in VNB margin, with a percentage of 26.8% in Q1FY25 as compared to 28.8% in the same time the previous year.
As of 2:07 pm, SBI Life Insurance shares were trading 3.39 % higher at Rs 1,752.80.
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