ICICI Prudential reports robust Q4 numbers

ICICI Prudential reports robust Q4 numbers

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⭐ICICI Prudential reports robust Q4 numbers

Private life insurer reported a 26% YoY jump in net profit to ₹235 crore during the March quarter. Meanwhile, the company earned a net premium of ₹12,629 crore, a rise of 11% YoY. The value of new business (VNB), which is a key profitability metric, grew by 27.8% YoY to ₹2,765 crore in FY23.

⭐ Sterling & Wilson Q4 earnings falls

Renewable energy company reported subdued fourth quarter earnings. The company’s consolidated net loss stood at ₹417 crore. Meanwhile, its revenue from operations declined by over 91% to ₹88.4 crore. The company said its earnings were impacted due to cost increase due to certain cost provisions.

Global markets (at 8:10 AM today)

| Indices | Today's movement |
| --
  • | --
  • |
    | SGX Nifty | **▲**0.02% |
    | Nikkei 225 (Japan) | ▼ 0.07% |
    | Hang Seng (Hong Kong) | ▼ 0.24% |
    | SSE Composite (China) | ▼ 0.26% |
    | Dow Jones (US) (April 20) | ▼ 0.33% |
    | NYSE (US) (April 20) | ▼ 0.45% |
    | Nasdaq (US) (April 20) | ▼ 0.80% |
    | S&P 500 (US) (April 20) | ▼ 0.60% |

Fact of the day

In March 2023, India climbed two spots to 64th position in the global ranking of median mobile speeds
Source: ** Economic Times**