SBI Life Insurance's Third-Quarter Net Profit Fell 16% on Year

By Kosaku Narioka

SBI Life Insurance Co.'s third-quarter net profit fell 16% from a year earlier, missing analysts' expectations.

Net profit for the quarter ended Dec. 31 fell to 3.04 billion rupees ($37.5 million) from INR3.64 billion a year earlier, the Indian insurer said Saturday. That missed the estimate of INR3.72 billion taken from a poll of analysts by FactSet.

Third-quarter net premium income increased 6.4% from a year earlier to INR191.71 billion, while income from investments more than tripled to INR74.43 billion from INR24.24 billion.

Write to Kosaku Narioka at [e-mail]

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