HDFC Standard Life Insurance on Friday reported a 5 percent rise in standalone net profit to Rs 364.01 crore for the fourth quarter ended March 31. It had registered a net profit of Rs 346.84 crore in the corresponding quarter of 2017-18.
The company's total income increased to Rs 14,374.56 during the quarter, from Rs 8,134.61 crore a year ago.
Discussing the business outlook going forward Vibha Padalkar, MD and CEO, HDFC Life, said they see a smooth upward curve on premium growth in coming fiscal.
With regards to value new business, Padalkar said the growth was healthy at around 20 percent and margins went up from 23.2 to 24.6 percent.
In FY20, margins would go up by 20 basis points due to improvement in term business, she said, adding that there is scope for further improvement in margins to 30 percent in the long-term.
Improvement in margins will depend on how the company sells protection products and there is a long runway as far as India is concerned, Padalkar added.