ICICI Prudential Life Insurance Co today reported a 17 per cent decline in consolidated net profit at Rs 340.26 crore for the January-March quarter of 2017-18.
The ICICI Bank subsidiary had reported a net profit of Rs 408.24 crore in the same quarter of 2016-17.
In view of the seasonality of industry, the financial results of the quarter are not indicative of full year's expected performance, the company said in a regulatory filing.
Total income (consolidated) plunged by over 49 per cent to Rs 7,136.87 crore in the last quarter of 2017-18, from Rs 14,117.14 crore in year ago same period.
For the full year, net profit declined to Rs 1,619.17 crore in 2017-18 from Rs 1,681.66 crore in 2016-17.
Income, however, grew to Rs 38,217.43 crore in 2017-18 from Rs 37,193.04 crore in the preceding fiscal.
Commenting on the performance, Sandeep Batra, the Executive Director ICICI Prudential Life, said, "The company registered a robust and well-rounded performance on all parameters."
Disclaimer: No Business Standard Journalist was involved in creation of this content