ICICI Prudential Life Q3 net profit down 34% at Rs 297 crore

ICICI Prudential Life registered 34 percent decline in its standalone net profit to Rs 296.77 crore in the third quarter ended December 31, 2018. The company had reported Rs 452.1 crore profit in the same period a year ago, the company said in a regulatory filing.

The net premium income of the company increased by around 15 percent to Rs 7,482.95 crore from Rs 6,795.13 crore in the year-ago period.

The Board has approved an interim dividend of Rs 1.60 per equity share for the first half of the current fiscal 2019.

The company’s market share stood at 10.8 percent among life insurance companies on a retail weighted received premium (RWRP) basis for the nine months ended December 2018.

The company said in a statement that total premium witnessed a growth of 13.2 percent to Rs 20,766 crore as against Rs 18,340 crore in the nine month period of last fiscal.

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