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ICICI Prudential Life Insurance Company Ltd Q2FY22 consolidated PAT at Rs. 445.62 crore

Posted On: 2021-10-19 20:46:14 (Time Zone: IST)

The Board of Directors of ICICI Prudential Life Insurance Company Limited, at its meeting held today have approved the unaudited Consolidated financial results of the company for the period ended September 30, 2021.

For the quarter ended September 30, 2021(Q2 FY2022), the company's total income was ₹ 23129.39 crore, against ₹16835.36 crore in the corresponding quarter of the previous year (YoY) and ₹16724.05 crore in previous quarter (QoQ).

For the quarter ended September 30, 2021(Q2 FY2022), the company's net profit / (loss) was ₹445.62 crore, against ₹302.46 crore in the corresponding quarter of the previous year (YoY) and ₹-185.29 crore in previous quarter (QoQ).

For the quarter ended September 30, 2021(Q2 FY2022), the company's Earnings Per Share (EPS) was ₹3.10, against ₹2.1064 in the corresponding quarter of the previous year (YoY) and ₹-1.2897 in previous quarter (QoQ).

Financials Q2 FY2022 Q1 FY2022 QoQ % Change Q2 FY2021 YoY % Change
Total Income ₹ 23129.39 crs ₹16724.05 crs Up Tick / Down Tick38.30% ₹16835.36 crs Up Tick / Down Tick37.39%
Net Profit ₹445.62 crs ₹-185.29 crs Up Tick / Down Tick340.50% ₹302.46 crs Up Tick / Down Tick47.33 %
EPS ₹3.10 ₹-1.2897 Up Tick / Down Tick340.37% ₹2.1064 Up Tick / Down Tick47.17%

For the 6 Months period ended September 30, 2021(Half Year Ended FY 2022), the company's total income was ₹39853.44 crore, against ₹35892.78 crore in the previous year (YoY) (Half Year Ended FY 2021).

The net profit / (loss) was at ₹260.33 crore for the 6 Months period ended September 30, 2021 (Half Year Ended FY 2022), compared to ₹589.32 crore in the previous year (YoY) (Half Year Ended FY 2021).

The Earnings Per Share stood at ₹1.8114 for the 6 Months period ended September 30, 2021 (Half Year Ended FY 2022), against ₹4.1041 in the previous year (YoY) (Half Year Ended FY 2021).

Financials Half Year Ended FY2022 Half Year Ended FY2021 % Change
Total Income ₹39853.44 crs ₹35892.78 crs Up Tick / Down Tick11.03%
Net Profit ₹260.33 crs ₹589.32 crs Up Tick / Down Tick-55.83%
EPS ₹1.8114 ₹4.1041 Up Tick / Down Tick-55.86%

Mr. N S Kannan, MD & CEO, ICICI Prudential Life Insurance said, "The improvement in the pandemic situation with each passing month, increased consumer awareness on the need for life insurance and our suite of customer-centric products have enabled us to grow new business by 62% sequentially this quarter. Significantly, we posted our best ever September on monthly sales for any year since inception, aided by our well-diversified product and distribution channel mix. Our New Business Sum Assured grew by 35% year-on-year to Rs. 3.37 trillion in H1-FY2022 and we continued to be the private sector leader with an overall market share of 13.2%. As a result, our absolute VNB grew by 45% year-on-year to Rs. 8.73 billion for H1-FY2022, demonstrating our progress towards achieving our stated objective of doubling our FY2019 VNB by FY2023."

Mr. Kannan further added, "As a caring and responsible organisation we settled all genuine claims quickly to ensure customers and their families had the required financial support in their hour of need. I am also delighted to share that we have received two significant awards 'Innovation during COVID-19' and 'Claims & Customer Service Excellence' from the Federation of Indian Chambers of Commerce and Industry (FICCI), a testimony to our efforts around innovation and customer-centricity."

Shares of ICICI Prudential Life Insurance Company Limited was last trading in BSE at Rs. 660.15 as compared to the previous close of Rs. 673.30. The total number of shares traded during the day was 142519 in over 5857 trades.

The stock hit an intraday high of Rs. 682.15 and intraday low of 655.55. The net turnover during the day was Rs. 95487589.00.

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