HDFC Life Q2 results: Cons PAT rises 3% YoY to Rs 448 crore, NPI rises 14%

HDFC Life Insurance Company on Wednesday reported 3% year-on-year growth in consolidated net profit in the second quarter at Rs 448 crore, compared to Rs 435 crore in the same period a year ago.

The company reported a 14% increase in its net premium income (NPI) for the reported quarter at Rs 18,871 crore, compared to Rs 16,614 crore in the corresponding quarter of the last fiscal.

However, the company’s profit after tax (PAT) fell 18% sequentially, compared to Rs 548 crore the company reported in Q1FY26. Meanwhile, net premium income rose 30% compared to Rs 14,539 crore in the April-June quarter.

Breakdown of gross premium income

• First year premium stood at Rs 3,599.58 crore in Q2FY26, compared to Rs 2,559.49 crore in Q1FY26 and Rs 3,260 crore in Q2FY25.
• The renewal premium stood at Rs 10,344 crore, compared to Rs 7,606 crore in Q1FY26 and Rs 8,831 crore in Q2FY25.
• Single Premium stood at Rs 5,371 crore in Q2FY26, compared to Rs 4,722 crore in Q1FY26 and Rs 4,843 crore in Q2FY25.

Statistics for H1FY26

PAT rose 9% year-on-year to Rs 994 crore in the first half. Individual Annual Premium Equivalent (APE) stood at Rs 6,471 in H1FY26 against Rs 5,864 crore, registering a growth of 10%.

Meanwhile, total APE stood at Rs 7,413 crore, up 10% year-on-year.

The New Business Premium for individuals and groups stood at Rs 16,222 crore, up 12%, while the renewal premium recorded a growth of 18% to Rs 17,940 crore.

Management speaks

Commenting on the company’s earnings, Managing Director, CEO Vibha Padalkar said the first half of 26 ended with top performance broadly in line with expectations, with the company outperforming both the industry and the private sector as a whole. “As the external environment evolves, we remain confident in the long-term growth potential of life insurance in India. The recent GST reform, while requiring some recalibration for industry stakeholders, is a structurally positive step – it makes life insurance products more affordable
customers. We remain optimistic about our growth trajectory for the second half of the year, with continued demand across all segments and improving consumer confidence. With a resilient business model, a trusted brand and a history of disciplined growth through cycles, we believe HDFC Life is well positioned to grow faster
than the industry,” she added.

She also said the GST revisions were a constructive structural shift aimed at simplifying compliance and improving affordability, and that the company had passed on the full benefits of the GST exemption to its customers.