New generation life insurer Birla Sun Life Insurance (BSLI) has announced its first quarter financial results for the fiscal year 2010-11. Birla Sun Life Insurance is the joint venture between the Indian Inc. Aditya Birla Group and Sun Life Financial Inc. of Canada.

According to the insurance firm, it has registered its maiden profit in the June quarter of the current fiscal. Birla Sun Life Insurance (BSLI) has posted a net profit of Rs 9 crore for the quarter that ended in 30th June, 2010 and this has been its first ever net profit show since its inception.

The company has incurred a loss of Rs 111 crore in the previous year. Birla Sun Life Insurance (BSLI) informed this fact in a statement.

According to the company, Birla Sun Life Insurance (BSLI) has managed to post a significant profit this time due to growing size of in-force book in this quarter.

According to the statement, there has been an18 per cent growth in total premium income of the company. It has touched to Rs 1,143 crore during the April-June quarter of fiscal year 2010-11.