ICCI Prudential shares dip over 11 percent after net 34 percent decline in December quarter

Shares of ICICI Prudential Life plunged over 11 percent Wednesday after the company registered 34 percent decline in standalone net profit at 296.77 crore in the December quarter 2018. The stock slumped 11.13 percent to settle at Rs 305.70 on BSE. During the day, it tanked 12.20 percent to Rs 302.

At NSE, shares of the company dived 11.20 percent to end at Rs 306.35. In terms of equity volume, 16.83 lakh shares of the company were traded on BSE, while over two crore shares changed hands at NSE during the day. The company had reported a net profit of Rs 452.1 crore in October-December 2017, it said in a regulatory filing. The net premium income increased around 15 percent to Rs 7,482.95 crore in December quarter from Rs 6,795.13 crore in the year-ago period.