ICICI Prudential Life Q2 results: Net profit rises 23% despite lower income

ICICI Prudential Life Insurance Company on Tuesday reported a 23 per cent increase in its net profit at Rs 244 crore in the quarter ended in September 2023 despite lower income.

The company's net profit in the same quarter a year ago stood at Rs 199 crore.

However, total income decreased by 2.4 per cent to Rs 174.36 crore from Rs 226.42 crore in the year-ago period, mainly because of fall in investment income.

The net premium earned by the private sector insurer during July-September was up at Rs 100.22 crore as against Rs 95.82 crore in the same period a year ago, ICICI Pru Life said in a regulatory filing.