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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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About NSEI:ICICIPRULI
ICICI Prudential Life Insurance
Provides life insurance, pension, and health insurance products to individuals and groups in India.
Proven track record with mediocre balance sheet.
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