ICICI Group companies reported robust results for Q1 FY2025, showcasing strong growth across various sectors. Notably, the Life Insurance company and Securities company achieved significant increases in net premium income and value of new business, reflecting the group’s overall positive performance.
ICICI Prudential Life Insurance Company Ltd.
Price Movement
On Wednesday, at around 11:30 am the share price of the large-cap Life Insurance company reached a 52-week high of Rs.690.3 per share from its previous close of Rs.637.6, surging more than 8 percent.
Q1 FY2025 Results
For the quarter ended June 2024, ICICI Prudential Life Insurance Ltd. reported revenue of Rs. 25,458.4 crores, up 12.7 percent from Rs.22,591.4 crores in the previous quarter of Q4 FY24 and up 7.34 percent from Rs.23,541.1 crores in last year same quarter.
The Profit After Tax (PAT) grew by 29.17 percent quarter-on-quarter basis to Rs.224.34 crores in Q1-FY2025 from Rs.173.67 crores in Q4-FY2024 and grew by 8.8 percent YoY from Rs.206.19 crores in Q1 FY2024.
Brokers Target
A renowned brokerage firm, Motilal Oswal recommends a buy call on ICICI Life Insurance stock with a target price of Rs.740 with an upside potential of nearly 16 percent from its previous close of Rs.637.6.
The brokerage firm stimulates ICICI Prudential’s strong position in the insurance industry, supported by sound financial performance and a wide range of insurance offerings that enhance customer appeal and retention.
About the company
ICICI Prudential Life Insurance Company Limited, a prominent entity in India’s life insurance sector, was founded through a partnership between ICICI Bank Limited and Prudential Corporation Holdings Limited. The company operates in life insurance and asset management services.
ICICI Securities Ltd
Price Movement
The share price of ICICI Securities Ltd. reached an intra day high of Rs.783 per share on Wednesday’s trading session gaining approximately 1 percent from its previous close of Rs.777.8 apiece.
How were the quarterly results
For the quarter ending June 2024, with a market capitalization of Rs.24,970 crores, ICICI Securities Ltd. reported revenues of Rs.1,640.7 crores, marking a 6.3 percent increase from Rs.1,543.1 crores in the previous quarter (Q4 FY24) and a substantial 75.6 percent rise from Rs.934.3 crores in Q1 FY24.
However, the Profit After Tax (PAT) declined by nearly 1.8 percent quarter-on-quarter to Rs.526.9 crores in Q1 FY2025 from Rs.536.6 crores in Q4 FY2024. Nevertheless, there was notable year-on-year growth in net profit, which surged by 94.5 percent from Rs.270.9 crores in Q1 FY2024.
Business Segments
In Q1 FY2025, ICICI Securities Ltd. reported a strong performance across its business segments. ICICI Securities earns 60.26 percent of its revenues from the Retail broking and allied segment, 10.68 percent from the Distribution segment, 7.7 percent from the Issuer services and advisory segment, 7.1 percent from the Institutional broking & allied segment, and the remaining 14.26 percent from other segments.
Company Profile
ICICI Securities Limited is an integrated technology-based securities company. Headquartered in Mumbai, the company offers a comprehensive range of services, including retail and institutional broking, financial products distribution, private wealth management, and issuer and advisory services.
Written by – Siddesh S Raskar
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