ICICI Prudential Life Insurance Company Q2 Results Live: Profit Rise by 2.92% YOY

ICICI Prudential Life Insurance Company Q2 Results Live : ICICI Prudential Life Insurance Company announced its Q2 results on October 22, 2024, reporting a significant topline increase of 44.69% year-on-year. The profit for the quarter also saw a rise of 2.92% compared to the same period last year.

However, when compared to the previous quarter, revenue declined by 0.93%, although profit increased substantially by 11.88%. This indicates a mixed performance in terms of sequential growth.

The company's selling, general, and administrative expenses saw a notable decline of 7.96% quarter-on-quarter and decreased by 12.11% year-on-year, demonstrating effective cost management strategies.

Operating income surged by 12% quarter-on-quarter and saw an impressive increase of 47.51% year-on-year, reflecting strong operational efficiency and growth in the life insurance sector.

The Earnings Per Share (EPS) for Q2 stood at ₹1.65, which is a decrease of 3.4% year-on-year. Despite the dip in EPS, the overall financial health of the company appears stable.

In the stock market, ICICI Prudential Life Insurance Company has delivered a modest return of 0.14% in the last week, while showing impressive gains of 29.67% over the last six months and 39.56% year-to-date.

Currently, the company boasts a market capitalization of ₹107823.7 Crore, with a 52-week high of ₹796.8 and a low of ₹463.45, showcasing strong market interest and investor confidence.

As of October 24, 2024, out of 31 analysts covering the company, 2 have given a 'Sell' rating, 12 have a 'Hold' rating, 8 have a 'Buy' rating, and 9 have issued a 'Strong Buy' recommendation. The consensus recommendation remains to 'Buy', indicating positive sentiment among market experts.