ICICI Prudential Life Insurance Company Ltd's Q3FY25 Quarter Results
- 22 Jan 2025
Result Summary
- ICICI Prudential Life Insurance Company Ltd reported a 81.3% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter-ended Dec (Q3FY25). On a year-on-year (YoY) basis, it witnessed a decline of 82.5%.
- Its expenses for the quarter were down by 83.1% QoQ and 84.2% YoY.
- The net profit increased 29.5% QoQ and increased 43.2% YoY.
- The earnings per share (EPS) of ICICI Prudential Life Insurance Company Ltd stood at 2.2 during Q3FY25.
Financial Statments for Q3FY25
| (₹ crores) | Q3FY25 | Q2FY25 | Q3FY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total Income | 4705.34 | 25141.75 | 26849.70 | -81.3% | -82.5% |
Total Expenses | 4203.84 | 24861.86 | 26611.33 | -83.1% | -84.2% |
Profit Before Tax | 503.19 | 293.39 | 237.24 | 71.5% | 112.1% |
Tax | 85.28 | 51.51 | 38.37 | 65.6% | 122.3% |
Profit After Tax | 324.91 | 250.99 | 226.92 | 29.5% | 43.2% |
Earnings Per Share | 2.20 | 1.70 | 1.60 | 29.4% | 37.5% |
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
Company Overview
ICICI Prudential Life Insurance Company Ltd is a leading life insurance provider in India. It offers a range of insurance products to cater to various customer needs including term insurance, health insurance, and savings and investment plans. The company operates in the insurance industry and is a joint venture between ICICI Bank Limited and Prudential Corporation Holdings Limited. While specific recent developments are not provided in the data, the company is known for leveraging digital platforms to enhance customer experience and operational efficiency. It continues to play a significant role in the Indian insurance market by focusing on innovation and customer-centric services.
Revenue
In the third quarter of fiscal year 2025, ICICI Prudential Life Insurance Company Ltd reported a total income of ₹4705.34 crores. This represents a significant decrease of 81.3% quarter-over-quarter (QoQ) from ₹25141.75 crores in Q2FY25 and an 82.5% decrease year-over-year (YoY) from ₹26849.70 crores in Q3FY24. The drastic reduction in total income over both the quarterly and yearly periods highlights a notable change in the company's revenue stream. This decline might be attributed to various factors such as market conditions or strategic shifts, though specific reasons are not detailed in the provided data.
Profitability
ICICI Prudential Life Insurance Company Ltd reported a profit before tax of ₹503.19 crores for Q3FY25, marking a 71.5% increase QoQ from ₹293.39 crores in Q2FY25, and a 112.1% increase YoY from ₹237.24 crores in Q3FY24. After accounting for a tax expense of ₹85.28 crores, the profit after tax stood at ₹324.91 crores, reflecting a 29.5% increase QoQ from ₹250.99 crores in the previous quarter and a 43.2% increase YoY from ₹226.92 crores in the same quarter last year. Earnings per share rose by 29.4% QoQ and 37.5% YoY, reaching ₹2.20. These figures indicate a strong profitability performance despite the decline in revenue, possibly highlighting the company's cost management or other operational efficiencies.
Operating Metrics
The total expenses for ICICI Prudential Life Insurance Company Ltd in Q3FY25 amounted to ₹4203.84 crores, a decrease of 83.1% QoQ from ₹24861.86 crores in Q2FY25, and an 84.2% decrease YoY from ₹26611.33 crores in Q3FY24. This significant reduction in expenses aligns with the decrease in total income, suggesting potential adjustments in operational activities or strategic cost management. The company has managed to maintain profitability despite lower income, which is further supported by the increase in profit before tax and profit after tax. The strategic allocation and management of resources appear to have had a favorable impact on the financial outcomes for the quarter.
