SBI Life Shares Dip Despite Strong Q3 Earnings, Bullish Analyst Outlook

• SBI Life shares fell 3% on Thursday, January 29, despite reporting Q3 earnings largely meeting expectations.
• Net profit rose nearly 5% year-on-year to ₹577 crore, driven by robust premium collections and GST exemption boosting demand.
• Net premium income grew 22% year-on-year to ₹30,245 crore, with one-time and renewal premiums surging.
• Operating costs increased sharply, with management expenses up over 45% due to higher agent commissions and employee costs.
• Brokerages like HSBC, Bernstein, Jefferies, Goldman Sachs, and Nomura maintained 'Buy' or 'Outperform' ratings with price targets up to ₹2,550, citing strong VNB growth and future prospects.

Why It Matters: SBI Life shares declined despite strong Q3 results and positive analyst ratings, driven by increased operating costs.