ICICI Prudential shares fall 10% after third quarter earnings

Shares of ICICI Prudential Life Insurance fell 10 per cent on Thursday after the company reported a net profit of Rs 227 crore in the December quarter.

The stock fell 10 percent to Rs 463.50 on BSE.

It fell 10 percent to Rs 463.45 on NSE.

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Its market valuation fell by Rs 4,320.16 crore to Rs 69,842.69 during morning trade.

The company had made a profit of Rs 221 crore in the same quarter a year ago.

Net premium income rose to Rs 9,929 crore during the third quarter of this financial year from Rs 9,465 crore in the same period a year ago, ICICI Prudential Life said in a regulatory filing on Wednesday.

The company’s assets under management increased to Rs 2,86,676 crore from Rs 2,51,884 crore at the end of the third quarter of the last fiscal, it said.

(This story has not been edited by News18 staff and is published from a syndicated news agency feed – PTI)