23 Feb 2020 | 4:40 AM


SBI Life Insurance Q2 net profit down 48.17% at Rs 129.84 cr
  SBI Life Insurance Company Ltd. | 17 Jan 2020 | 10:51 AM
Published on 10-17-2019
The company reported standalone net profit of Rs 129.84 crore for the quarter ended September 30 2019 as compared to Rs 250.53 crore in the same period last year registering a year-on-year decline of 48.17 per cent.

Net revenue of the company declined substantially by 60.45 per cent at Rs 55.50 crore in July-September quarter of this fiscal as against Rs 140.33 crore in the corresponding period last year.

During July-September quarter operating expenses increased by 1081.26 per cent to Rs 80.68 crore from Rs 6.83 crore in year ago period.

Other Income dipped by 63.50 per cent at Rs 1.50 crore versus (Sep`18 Rs 4.11 crore).

Operating Profit slipped by 53.35 per cent to Rs 117.71 crore as against Rs 252.30 crore in the year ago period while Operating Profit Margin (OPM) expanded year-on-year to 17.97 per cent in September quarter.

Taxation decreased by 280.78 per cent at Rs -10.63 crore (Sep`18 Rs 5.88 crore).