ICICI Pru Life shares marginally up on Q3 earnings

Shares of ICICI Prudential Life Insurance Company on Tuesday ended marginally up after the firm reported a slight increase in net income.

The stock opened at Rs 488 and gained 0.12 per cent to close at Rs 489 on the BSE.

On the NSE, the scrip rose 0.44 per cent to settle at Rs 490.45.

In terms of volume, 1.84 lakh shares were traded on the BSE and more than 55 lakh units exchanged hands on the NSE.

Moreover, spurt in volume was more than 5.26 times on the BSE.

Private sector life insurer ICICI Prudential Life on Tuesday reported a marginal increase in net income to Rs 302 crore, despite a 33 per cent rise in growth in new business income and a spike in margins for the December 2019 quarter.

The company's net income remained flat at Rs 302 crore against Rs 297 crore in the December 2018 quarter, while a spike in protection portfolio helped it improve margin to 21 per cent in the reporting quarter from 17 per cent a year ago.