ICICI Prudential gains 10% even as Q4 net profit declines 31%

The company's pre-tax profit for the quarter declined 38 per cent year-on-year (YoY) to Rs 172 crore due to losses in investment

Shares of ICICI Prudential Life Insurance Company (ICICI Pru) were up 10 per cent  to Rs 370 apiece on the BSE on Monday even as its net profit declined 31 per cent for the March quarter of FY20 (Q4FY20) to Rs 179 crore impacted by weak business trends due to the lockdown in March. the company had net profit of Rs 261 crore in the year-ago period.

Prior to Q4 results, in past two trading days, the stock of ICICI Prudential Life has underperformed the market by falling 9 per cent, against a 0.17 per cent decline in the S&P