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Home » ICICI Prudential Life Q4 Results update along with Technical view on stock.
General News

ICICI Prudential Life Q4 Results update along with Technical view on stock.

ICICI PRU

 

ICICI Prudential Life Q4 Results Update

Company set poor numbers with the hope to do better in the future.

Net Profit declines 31.3% YoY

The private life insurer reported a net profit of Rs 179.49 crore in the fourth quarter of fiscal 2020 compared with Rs 261.37 crore a year ago.

Net Premium income rose 4.17

ICICI Pru net premium income rose 4.17 percent to Rs 10,475 crore from 10,056 crores a year ago.

Net profit decline in FY20 by 6.31

The company reported a net profit of Rs 1,069 crore, a drop of 6.31 percent from a year ago.

*VNB margin was 21.7 percent for FY2020 as compared to 17.0 percent for FY2019

*APE(Average Premium Equivalent) came in at Rs 7381 crore for FY2020,a drop of 5.36 percent from Rs 7799 crore for FY2019.

VNB grew by 21 percent from ₹1,328 crore to ₹1,605 crores in 2019-20, which is well within the growth range required to meet that aspiration, said MD&CEO

 

IMPACT

Negative

Although in the short term ICICI Prudential may see downside move, any major support would be an accumulation opportunity in the stock.

We are expecting a bright future of life insurance company due to the thereat of Coronavirus to mankind.

Technical View

 

The stock rebounded from the bottom of 226. Immediate Resistance 420, Support 315

Trading and closing below 320 level may slide it a price for 285—270 on the downside. Else it may test its resistance levels. Any dip in the current quarter would be an accumulation opportunity.

 

 

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