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SBI Life Q2 profit softens 6–7% YoY; premium income jumps 23%
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SBI Life’s Q2 profit dipped to ~₹495 crore even as premium income rose 23%, highlighting growth with near-term margin pressure.
SBI Life Insurance posted a mixed September-quarter print, with net profit easing to about ₹495 crore, down 6–7% year-on-year, as operating expenses rose. Offsetting this, net premium income climbed 23% to ₹24,848 crore, indicating healthy underlying demand. Persistency and customer retention remain focus areas, while product mix is being tuned toward profitable growth. Investors will track VNB margins, protection/annuity traction, and the impact of distribution incentives through the festive period.