SBI Life Insurance rallies 9.5%, hits new 52-week high on strong Q1 results

The company displayed a strong show in Q1FY23 with 80 per cent YoY growth in APE along with a sharp jump of 132 per cent YoY in VNB.

Shares of SBI Life Insurance Company rallied 9.6 per cent to Rs 1,304.45 on the BSE in Friday's intra-day trade, thus hitting a new 52-week high. The insurer, on Thursday, reported 18 per cent year-on-year (YoY) growth in its net profit at Rs 263 crore in the April–June quarter (first quarter, or Q1) of 2022-23 (FY23), aided by a healthy jump in gross written premium. In the corresponding period a year ago, the company's net profit was to the tune of Rs 223 crore.

At 10:49 AM, the stock traded 9.1 per cent higher at Rs 1,298, as compared