<p>HDFC Life on Friday reported 15 per cent increase in net profit at Rs 415 crore for first quarter of the current fiscal year.</p>.<p>The company had reported Rs 361 crore profit in April-June 2022-23.</p>.<p>The total premium rose 16 per cent to Rs 11,673 crore during the quarter as compared with Rs 10,050 crore in the year-ago period, HDFC Life said in a statement.</p>.<p>During the latest quarter, the first-year premium collection rose 19 per cent to Rs 5,869 crore from Rs 4,949 crore in the same period a year ago.</p>.<p>The company's solvency stands at 200 per cent as compared to 178 per cent in the same quarter a year ago.</p>.<p>The board has recommended a dividend of Rs 1.90 per share aggregating to a payout of Rs 408 crore subject to approval by the shareholders.</p>.<p>Indian Embedded Value of the company witnessed 29 per cent increase to Rs 41,843 crore at the end June 2023.</p>
<p>HDFC Life on Friday reported 15 per cent increase in net profit at Rs 415 crore for first quarter of the current fiscal year.</p>.<p>The company had reported Rs 361 crore profit in April-June 2022-23.</p>.<p>The total premium rose 16 per cent to Rs 11,673 crore during the quarter as compared with Rs 10,050 crore in the year-ago period, HDFC Life said in a statement.</p>.<p>During the latest quarter, the first-year premium collection rose 19 per cent to Rs 5,869 crore from Rs 4,949 crore in the same period a year ago.</p>.<p>The company's solvency stands at 200 per cent as compared to 178 per cent in the same quarter a year ago.</p>.<p>The board has recommended a dividend of Rs 1.90 per share aggregating to a payout of Rs 408 crore subject to approval by the shareholders.</p>.<p>Indian Embedded Value of the company witnessed 29 per cent increase to Rs 41,843 crore at the end June 2023.</p>