Mumbai: SBI Life Insurance posted a 5.1 percent year-on-year rise in net profit to Rs 319.8 crore in Q3 FY26, as total income surged 45.7 percent to Rs 38,710.4 crore. Compared to Rs 380 crore profit in Q2 and Rs 388.6 crore in Q1, the life insurer witnessed a sequential decline in profit. However, income growth remained strong across quarters, underpinned by robust investment gains and premium income.
Income leaps on investment performance
In Q3 FY26, SBI Life recorded a 45.7 percent rise in total income to Rs 38,710.4 crore from Rs 26,585.6 crore in Q3 FY25. Sequentially, income grew 28.2 percent from Rs 30,198.8 crore in Q2. Net profit rose to Rs 319.8 crore, marking a marginal YoY increase, but fell 15.8 percent from Q2’s Rs 380 crore. The company's topline benefited from favorable market movements and steady premium accretion, though actuarial adjustments and policy liabilities weighed on the bottom line.
Profit moderates despite topline surge
Expenses rose sharply in Q3 to Rs 38,328.3 crore from Rs 29,818.8 crore in Q2 and Rs 26,279.8 crore a year ago, aligned with a proportional rise in income. EPS for the quarter dropped to Rs 3.19 from Rs 3.79 in Q2, but improved slightly from Rs 3.04 in Q3 FY25. The sequential margin compression reflects the volatility inherent in life insurance earnings, largely driven by market-linked policy valuations and fund performance.
9M snapshot: Growth in income, PAT under pressure
For the nine months ended December 2025, total income jumped 32.1 percent YoY to Rs 1,04,991.2 crore. Net profit for the period declined 3.7 percent to Rs 1,088.4 crore from Rs 1,130.5 crore in 9M FY25. The gap reflects the impact of actuarial provisions and fluctuating financial markets. SBI Life continues to demonstrate a strong topline growth trajectory with stable underwriting metrics.
Disclaimer: This report is based on SBI Life’s unaudited financial results for Q3 FY26. All figures are verified from official filings. No forward-looking statements or speculative commentary are included.
