Subscribe To Our Free Newsletter |
ICICI Prudential Q4 Results: Net profit drops 26% YoY to Rs 174 crore; net premium income up 17%
ICICI Prudential saw a lower new business margin in Q4, hurt by a persistent decline in demand for high-value policies and as customer preferences shifted towards low-margin products. Value for new business (VNB), the expected profit from new policies, fell 19% to Rs 2,227 crore for the year ended March 31, dragging the VNB margin to 24.6% from 32% a year earlier.