ICICI Prudential's Profit Surges Amid Strategic Expense Management

ICICI Prudential reported a significant increase in net profit for the March quarter, rising to Rs 386 crore due to reduced expenses. The insurer's net premium income also increased by 10.6%. For the fiscal year 2024-25, net profit rose by 40% to Rs 1,189 crore, with a VNB margin of 22.8%.

ICICI Prudential, a leading private sector insurer, announced a substantial rise in net profit, doubling to Rs 386 crore for the March quarter. This growth is attributed primarily to a reduction in the company's expenses.

The insurer saw a 10.6% increase in net premium income, reaching Rs 16,369 crore. Meanwhile, expenses dropped significantly due to a change in actuarial liabilities, driving the decline from Rs 22,352 crore to Rs 15,314 crore.

For the entire 2024-25 fiscal year, ICICI Prudential's net profit grew by an impressive 40%, amounting to Rs 1,189 crore. The company also declared a dividend, increased its assets under management, and maintained a strong solvency ratio.

(With inputs from agencies.)