ICICI Prudential Q4 results: reports consolidated net profit of Rs 179.49 crores
ICICI Prudential Q4 results: It is one of the subsidiaries to ICICI Bank and Prudential Corporation Holdings Ltd. The company provide services in long-term savings and protection products of the customers.
Meanwhile, the shares of ICICI Prudential Life Insurance Ltd on Monday reported a bullish trend in the stock market. The main reason for this is the company reported its Q4 results on Saturday. The company posted its consolidated net profit of Rs 179.49 crores with a 31.33% decrease in this quarter ended in March. Whereas, the company also posted its consolidated net profit of Rs 261.37 crores in the same quarter last financial year.
Besides, the company net premium revenue increased by 4.17% to Rs 10,475 crores in this quarter ended in March. The company also posted its revenue of Rs 10,056 crores in the same quarter last fiscal year. On the other side, the company also posted its investment loss of Rs 18,940 crores for the quarter as against net income of Rs 5,617 crores last year.
However, the consolidated net profit of Rs 1,069 crores in the financial year 2020 with a 6.31% decrease from last year. The value of the new business of the company reported at Rs 1,605 crores with an average premium equivalent (APE) stood at Rs 7,381 crores. Whereas, the VNB for FY20 reported 21.7% as against 17.0% last year.
The Average premium equivalent of the company reported at Rs 7,381 crores for the fiscal year 2020. However, the company also posted its APE of Rs 7,799 crore last year with a 5.36% decrease.
On Monday, April 27, the shares of ICICI Prudential Life Ltd reported a bullish trend in the stock market. The company gained 38.40 points with an 11.41% increase and reached 374.95 INR. While in BSE, the company gained 37.85 points with an 11.29% increase and reached 374.45 INR.
Besides, the early trend of both Sensex and Nifty reported a bullish trend in the stock market on Monday after the bearish trend in the last session. The Sensex is trading above 31,000 level, and Nifty is trading above the 9,200 level in the stock market. The Sensex gained 485.65 points with a 1.55% increase and reached a 31,811.53 level. While Nifty gained 138.00 points with a 1.60% increase and reached 9,300 level.
On the other side, the number of coronavirus cases in India reached 27,892 as of Monday, April 27, and deaths reached 872.
In the border market, the S&P BSE Smallcap index reported a bullish trend in the stock market on Monday. It gained 134.62 points with a 1.27% increase and reached a 10,768.94 level. The S&P BSE Midcap index gained 162.20 points with a 1.42% increase and reached an 11,626.50 level. While Nifty Bank gained 466.05 with a 2.38% increase and reached 20,055.20 level.
Top Gainers on April 27: Kotak Mahindra Bank, UPL, Axis Bank, IndusInd Bank, and Bharati Infratel are the top gainers in the stock market.
Top Losers on April 27: NTPC, HDFC Bank, Dr. Reddys Labs, Power Grid Corp, and ITC Ltd are the top losers in the stock market.