ICICI Prudential Life Insurance today reported a 30.61 per cent year-on-year decline in standalone net profit at Rs 281.64 crore for the June quarter.
The company had reported a net profit of Rs 405.93 crore in the corresponding quarter last year.
Its total income for the April-June quarter stood at Rs 5,518 crore, against Rs 4,885 crore in the year-ago period, registering a growth of 13 per cent, a release said.
Company's managing director and chief executive officer NS Kannan said, "Our focus continues to be on growing absolute value of new business using the four-P strategy of focusing on premium growth, protection, persistency and productivity. This has yielded the desired outcome and we have been able to grow VNB (value of new business) with uncompromising focus on quality."
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