ICICI Prudential Shares Surge 9% on Strong Q1 Earnings
By Rediff Money Desk, New Delhi Jul 24, 2024 17:45
ICICI Prudential Life Insurance shares soared nearly 9% after reporting a 9% rise in profit for the June quarter, reaching a 52-week high. The company's net premium income and new business value also saw growth.
![ICICI Prudential Shares Surge 9% on Strong Q1 Earnings](https://im.rediff.com/money/2022/dec/23insurance.jpg)
Illustration: Uttam Ghosh/Rediff.com
New Delhi, Jul 24 (PTI) Shares of ICICI Prudential Life Insurance on Wednesday jumped nearly 9 per cent after the company reported a 9 per cent increase in profit after tax for the June quarter at Rs 224.34 crore.
The stock zoomed 8.83 per cent to settle at Rs 693.90 apiece on the BSE. Intra-day, it soared 9.31 per cent to Rs 697 -- the 52-week high level.
On the NSE, it surged 8.86 per cent to Rs 695 per share.
The life insurance major had reported a net profit of Rs 206.19 crore in the year-ago period.
Its net premium income increased to Rs 7,875 crore from Rs 7,020 crore a year earlier, it said in a regulatory filing on Tuesday.
In a statement, the company said it registered nearly an 8 per cent growth in the value of new business to Rs 472 crore.
Its overall assets under management crossed the Rs 3 lakh crore mark during the quarter, it said.
The stock zoomed 8.83 per cent to settle at Rs 693.90 apiece on the BSE. Intra-day, it soared 9.31 per cent to Rs 697 -- the 52-week high level.
On the NSE, it surged 8.86 per cent to Rs 695 per share.
The life insurance major had reported a net profit of Rs 206.19 crore in the year-ago period.
Its net premium income increased to Rs 7,875 crore from Rs 7,020 crore a year earlier, it said in a regulatory filing on Tuesday.
In a statement, the company said it registered nearly an 8 per cent growth in the value of new business to Rs 472 crore.
Its overall assets under management crossed the Rs 3 lakh crore mark during the quarter, it said.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- IFL Enterprises
- 1.25 (+ 4.17)
- 61401183
- Khoobsurat
- 1.71 (+ 4.91)
- 50098427
- Srestha Finvest
- 2.38 (+ 4.85)
- 46257515
- Vodafone Idea L
- 15.58 (+ 1.96)
- 34344791
- GTL Infrastructure
- 3.03 (+ 4.84)
- 29202832
MORE NEWS
![Japan Resumes Yen...](https://im.rediff.com/80-80/money/2022/apr/04sri-lanka.jpg)
Japan Resumes Yen Loan Projects in Sri Lanka
Japan has resumed funding Yen Loan Projects in Sri Lanka after the country's successful...
![I-T Returns...](https://im.rediff.com/80-80/money/2021/apr/05tax.jpg)
I-T Returns Filing: CBDT Assures Smooth Portal...
CBDT is working with service providers to ensure the smooth functioning of the income...
![RBI Tightens Cash...](https://im.rediff.com/80-80/news/2016/nov/30jan.jpg)
RBI Tightens Cash Pay-out Norms at Banks: New...
The Reserve Bank of India (RBI) has tightened norms for cash pay-out services at banks,...