Shares of ICICI Prudential plunged to a two-year low of Rs310 on the BSE, a drop of ~10% from its previous closing. Share prices plummeted as the company announced a disappointing set of numbers for the quarter ended December 2018.
ICICI Prudential Life Insurance Company Ltd's gross written premium increased by ~10% yoy to Rs7,566.36cr in Q3FY19. The net premium income for Q3FY19 came in at Rs7,482.95cr, an increase of 10.1% yoy, in line with estimates.
Net commission expense remained flat at Rs367.14cr in Q3FY19. Benefits paid during Q3FY19 declined 29% yoy to Rs3,324.52cr. Net profit after tax for Q3FY19 stood at Rs296.77cr, a decline of 34.4% yoy.
ICICI Prudential Life Insurance Company Ltd is currently trading at Rs306.10 down by Rs37.9 or 11.02% from its previous closing of Rs344 on the BSE.
ICICI Prudential Life Insurance Company Ltd's gross written premium increased by ~10% yoy to Rs7,566.36cr in Q3FY19. The net premium income for Q3FY19 came in at Rs7,482.95cr, an increase of 10.1% yoy, in line with estimates.
Net commission expense remained flat at Rs367.14cr in Q3FY19. Benefits paid during Q3FY19 declined 29% yoy to Rs3,324.52cr. Net profit after tax for Q3FY19 stood at Rs296.77cr, a decline of 34.4% yoy.
ICICI Prudential Life Insurance Company Ltd is currently trading at Rs306.10 down by Rs37.9 or 11.02% from its previous closing of Rs344 on the BSE.
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