HDFC Life on Tuesday reported a 14.85 per cent year-on-year (Y-o-Y) increase in net profit at Rs 433 crore for the second quarter (Q2) of 2024-25 (FY25), primarily driven by growth in its back book. Its value of new business (VNB) increased 17.1 per cent Y-o-Y to Rs 938 crore in Q2, up from Rs 801 crore in the same period last year. The insurer’s VNB margin, a measure of profitability, contracted to 24.3 per cent compared to 26.3 per cent last year, as low-margin unit-linked policies dominated product sales. It closed 3.6 per cent lower after
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