HDFCLIFE HDFC Life Insurance Company Q3 FY26 results (Oct–Dec 2025) and concall
HDFC Life delivered steady growth in Q3 FY26 driven by strong protection momentum post-GST exemption and continued ULIP traction. While the GST impact on margins was contained to ~190bps (vs 300bps initial estimate), the one-time Labor Code impact of Rs 98 crores weighed on reported PAT and EV. Management remains confident of neutralizing GST impact by FY27 start and aspires to double VNB every 4-4.5 years.
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What they filed
Q3 FY26: revenue up 70.1%, net profit up 1.4% against the same quarter last year.
| Line item | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|
| Revenue | 17,235 | 24,111 | 29,381 | 20,548 | 29,312 +70% |
| EBITDA | 460 | 401 | 460 | 341 | 302 −34% |
| Net profit | 415 | 477 | 546 | 447 | 421 +1% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Inve summary of a publicly available earnings call transcript; see how call summaries are prepared. Not investment advice.
