ICICI Prudential Life Insurance Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

ICICI Prudential Life Insurance (NSE:ICICIPRULI) Full Year 2024 Results

Key Financial Results

• Revenue: ₹899.3b (up 82% from FY 2023).
• Net income: ₹8.51b (up 4.6% from FY 2023).
• Profit margin: 0.9% (down from 1.6% in FY 2023). The decrease in margin was driven by higher expenses.
• EPS: ₹5.91 (up from ₹5.66 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

ICICI Prudential Life Insurance Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) missed analyst estimates by 9.0%.

The primary driver behind last 12 months revenue was the Linked Business - Life segment contributing a total revenue of ₹527.8b (59% of total revenue). Notably, cost of sales worth ₹840.3b amounted to 93% of total revenue thereby underscoring the impact on earnings. The largest operating expense was General & Administrative costs, amounting to ₹30.5b (60% of total expenses). Explore how ICICIPRULI's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to decline by 20% p.a. on average during the next 3 years, while revenues in the Insurance industry in India are expected to grow by 6.2%.

Performance of the Indian Insurance industry.

The company's shares are up 4.8% from a week ago.

Risk Analysis

We should say that we've discovered 2 warning signs for ICICI Prudential Life Insurance (1 doesn't sit too well with us!) that you should be aware of before investing here.

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