New generation life insurer Birla Sun Life Insurance (BSLI) has reported profit for the first time since inception in the June quarter this fiscal at Rs 9 crore.
The company had a loss of Rs 111 crore last year.
"Driven by the growing size of in-force book, BSLI achieved a net profit of Rs 9 crore," the company said in a statement.
The company also registered an 18 per cent growth in total premium income to Rs 1,143 crore while new business premium grew 7 per cent to Rs 473 crore between April and June.
Assets under management stood at Rs 16,841 crore, up 44 per cent from June 2009's Rs 11,670 crore, it said.
BSLI is a joint venture between the Aditya Birla Group and Canadian firm Sun Life Financial Inc.