ICICI Prudential Shares Plunge 10% After Q3 Earnings

ICICI Prudential Shares Plunge 10% After Q3 Earnings

Its market valuation fell Rs 4,320.16 crore to Rs 69,842.69 during the morning trade.

PTIUpdated: Thursday, January 18, 2024, 11:06 AM IST
article-image
ICICI Prudential Shares Plunge 10% After Q3 Earnings | Image: ICICI (Representative)

Shares of ICICI Prudential Life Insurance plunged 10 per cent on Thursday after the company reported a flat net profit of Rs 227 crore in December quarter.

The stock fell 10 per cent to Rs 463.50 on the BSE.

It tumbled 10 per cent to Rs 463.45 on the NSE.

Its market valuation fell Rs 4,320.16 crore to Rs 69,842.69 during the morning trade.

Financial highlights Q3FY24

The company had posted a profit of Rs 221 crore in the same quarter a year ago.

During the third quarter of this fiscal the net premium income increased to Rs 9,929 crore, as against Rs 9,465 crore in the same period a year ago, ICICI Prudential Life said in a regulatory filing on Wednesday.

The assets under management of the company increased to Rs 2,86,676 crore as against Rs 2,51,884 crore at the end of third quarter of previous fiscal, it said.

RECENT STORIES

Markets Start In Green As Concerns Over Israel-Iran Escalation Subside; Crude Oil Prices Dip

Markets Start In Green As Concerns Over Israel-Iran Escalation Subside; Crude Oil Prices Dip

On Market's Mind: US Fed, Israel-Iran Conflict And Q4 Earnings Will Decide Performance Next Week

On Market's Mind: US Fed, Israel-Iran Conflict And Q4 Earnings Will Decide Performance Next Week

'30 Crore Consumers In 4 Months': Free Safety Check For All LPG Connections By Govt Oil Companies

'30 Crore Consumers In 4 Months': Free Safety Check For All LPG Connections By Govt Oil Companies

₹20,000 In 4 Days: FIIs Shed In Volumes Amid Election And Global Uncertainties

₹20,000 In 4 Days: FIIs Shed In Volumes Amid Election And Global Uncertainties

Direct Tax Collections Exceed Estimates In FY24; Jump 18% To ₹19.58 Lakh Crore

Direct Tax Collections Exceed Estimates In FY24; Jump 18% To ₹19.58 Lakh Crore