ICICI Prudential Q3 Results: A Steady Performance Amidst Challenging Market Conditions
ICICI Prudential Life Insurance Company Ltd. has reported a steady Value of New Business (VNB) margin of 24.4% in the third quarter of the current fiscal year, despite the loss of input tax credit after GST exemption. The company’s efforts towards product mix shift, increasing retail protection contribution, and robust cost optimization measures have resulted in continued year-on-year expansion in VNB margin.
Key Highlights of ICICI Prudential Q3 Results
- VNB margin remains steady at 24.4%, driven by product mix shift and cost optimization measures
- Robust cost optimization measures have helped the company to maintain its profitability
- Increasing retail protection contribution has also contributed to the steady VNB margin
- Loss of input tax credit after GST exemption has not significantly impacted the company’s VNB margin
Motilal Oswal Maintains ‘Buy’ Rating with a Target Price of ₹700
Motilal Oswal has maintained its ‘Buy’ rating on ICICI Prudential Life Insurance Company Ltd. with a target price of ₹700, citing the company’s continued efforts towards product mix shift, increasing retail protection contribution, and robust cost optimization measures. The brokerage firm believes that the company’s profitability will be supported by higher volumes driven by GST exemption, increased traction of non-linked products, and improved product-level margins.
For more information on ICICI Prudential Life Insurance Company Ltd., please visit our website.
Long-term Prospects of ICICI Prudential
In the longer term, ICICI Prudential Life Insurance Company Ltd.’s profitability will be supported by higher volumes driven by GST exemption, increased traction of non-linked products, and improved product-level margins. The company’s continued efforts towards product mix shift, increasing retail protection contribution, and robust cost optimization measures will also contribute to its long-term growth.
For more information on life insurance companies in India, please visit our website.
Indian Stock Market Outlook
The Indian stock market has been volatile in recent times, with the Nifty 50 and Sensex indices fluctuating wildly. However, with the Q3 results season underway, investors are keenly watching the performance of companies like ICICI Prudential Life Insurance Company Ltd.
For more information on Indian stock market news, please visit our website.
