PREMIUM INCOME FELL
ICICI Prudential Q4 Results: Net profit drops 26% YoY to Rs 174 crore, net premium income up 17%
ICICI Prudential saw a lower new business margin in Q4, hurt by a persistent decline in demand for high-value policies and as customer preferences shifted towards low-margin products. Value for new business (VNB), the expected profit from new policies, fell 19% to Rs 2,227 crore for the year ended March 31, dragging the VNB margin to 24.6% from 32% a year earlier.
GPT Healthcare shares list at 16% premium over IPO price
GPT Healthcare Share Price: GPT Healthcare's IPO debuted with a 16.2% premium. It raised Rs 525 crore for prepayment/repayment of borrowings. The company operates four multispecialty hospitals. Revenue grew at 53.87% CAGR. Three-month total income was Rs 97.63 crore, net profit was Rs 9.98 crore.
Bata reports a 31% fall in net profit, owing to muted demands
Gunjan Shah, MD and CEO of Bata India Limited, said, “Despite persistent market headwinds accentuated in discretionary spending, we continued to invest in new product launches, enhancing customer experience and expanding our reach across channels & markets.”
Marico Q3 Results: Net profit jumps 16% to Rs 386 crore, revenue slips 2%
Homegrown FMCG major Marico Ltd on Monday reported a 15.9 per cent increase in its consolidated net profit to Rs 386 crore for the third quarter ended December 2023, helped by softer input costs and a favourable portfolio mix.
Medi Assist Healthcare shares list at 11% premium over IPO price
Medi Assist Healthcare, the first insurance third-party administrator (TPA) in India to list on the exchanges, saw its shares debut at a 11.2% premium. The stock listed at Rs 465 on BSE and Rs 460 on NSE, compared to an issue price of Rs 418. The company's IPO, which was subscribed 16 times, provided investors with an opportunity to invest in a leading TPA health-tech and insurance-tech company.
HUL Q3: Rural growth still subdued, co is cautiously optimistic going ahead
Hindustan Unilever (HUL Q3) remains cautiously optimistic as it reports its Q3 financial results. The company expects a gradual recovery in market demand to continue, supported by increased Government spending, recovery in winter crop sowing, and better crop realization. CEO Rohit Jawa emphasizes that rural income growths and winter crop yields will determine the pace of recovery.
- Go To Page 1
Interim Budget 2024 wish list: 15 income tax, personal finance ideas for the Finance Minister
The Union Budget will be announced next month. ET Wealth reached out to experts to know what they want on February 1.
Medi Assist Healthcare IPO opens on Monday. What GMP signals ahead of subscription?
Medi Assist Healthcare IPO: The initial public offering (IPO) of Medi Assist Healthcare will open for public subscription on January 15 and closes on January 17. Ahead of the issue opening, the grey market premium (GMP) of the company is around Rs 32.
Thoda achhe wala dikhao: The year Indian shoppers went premium
In 2023, India witnessed a shift in consumer demand, as sales of low-priced goods declined while luxury items surged, marking a notable trend. Companies adapted by targeting affluent consumers to offset reduced sales and declining margins, highlighting a clear split in consumer preferences towards premium products amid market challenges.
Polycab shares drop 4% after reports of income tax raids
Polycab is India's largest company in the cables and wires sector with a market share of 15% in the organised category. The stock, which has more than doubled in value in the last one year, is seen as a major play on the capex upcycle in India.
ICICI Lombard Q2 Results: Pre-tax profit rises 25% on higher premium collection
ICICI Lombard General Insurance, backed by ICICI Bank, has reported a 25.3% increase in pre-tax profit for the second quarter, driven by higher premiums and investment income. Profit before tax rose to INR 7.64 billion ($91.80 million) from INR 6.10 billion a year earlier, while profit after tax fell 2.2% to INR 5.77 billion due to higher provisions for tax.
SBI Life's Q1 net profit rises 45%, value of new business drops
Despite the overall positive financial performance, the value of new business (VNB) margin dropped to 28.8% from 30.4% due to a decline in non-par products during the quarter.
Life insurers' Q1 new business premium collections decline 0.9 per cent: Report
Life insurers in India recorded a decline of 0.9% in first-quarter new business premium collections, amounting to Rs 73,004.9 crore, mainly due to the decrease in group premium mop-up led by the market leader Life Insurance Corporation (LIC), according to a report by Care Ratings.
LIC Q4 Results: PAT grows multifold to Rs 13,428 crore; net premium income falls 8% YoY
The profit grew 466% from Rs 2,371 crore in the same quarter of last year.
Falling premiums at LIC drag life insurers' income down by 30%
The life insurance industry reported a 30% decline in premium income in April on a year-on-year basis, mainly due to the decrease in premium income by the state-owned Life Insurance Corporation of India (LIC). The private sector life insurance industry, on the other hand, reported an 8.55% increase in total new premium income.
Xiaomi's slow shift in India to premium smartphones helps Samsung steal its crown
While Xiaomi remained focused on selling mobile phones under 10,000 rupees ($120), Indian consumers were willing to pay up for better looking models with richer features. South Korea's Samsung launched products to meet those aspirations and offered innovative financing schemes that made them affordable to most.
Apple's quarterly revenues dip for first time in four years, forecast says another slump incoming
Apple sales fell 5% to $117.2 billion and were down in every part of the world in the quarter. Sales from each product category dropped, except for gains in services and iPads. Earnings per share were $1.88.
DLF plans to launch Rs 7500 crore premium housing project in Gurugram
DLF, the country's largest real estate firm in terms of market capitalisation, achieved a 45 per cent growth in sales bookings to Rs 6,599 crore in April-December period of this fiscal and is on track to achieve its annual sales guidance of Rs 8,000 crore.
GIC Re posts Rs 690-cr profit in June quarter
Net profit was at 690 crore as compared to loss of 772 crore a year ago. Gross premium income declined 23% to 11,022 crore. Total claims reduced 14% to 10,169 crore. Underwriting loss came down to 776 crore from 2,811 crore. Investment income rose 5% to 1,890 crore. Combined ratio improved to 110.97%.
HDFC Life posts 13% rise in March quarter net profit
CEO Vibha Padalkar said the higher expenses were linked to the growth the company has seen over the year. She expects the momentum to continue even in the current fiscal. "Despite the pandemic, we have grown at a compounded rate of 17%. We are reasonably confident that this momentum will continue riding on economic growth as demand for savings and investments will remain strong despite headwinds like inflation," Padalkar said.
HDFC Life profit up led by premium growth even as Covid claims slows
Premium income net of reinsurance increased 28 per cent to Rs 12,124 crore from Rs 9487 crore a year ago, led by a 21 per cent growth in renewal premium to Rs 5543 crore in December 2021 from Rs 4577 crore a year ago.
New premium income of life insurers up 42 per cent at Rs 27,177 crore in November: Irdai
LIC, the only state-owned life insurer in the country, witnessed over 32 per cent rise in the first-year business premium in November at Rs 15,967.51 crore.
New premium income down 11% for life insurers in July
New premium income at life-cover sellers fell 11% to ₹20,434 crore in July, the latest regulatory data showed, pointing to a subdued performance by the Life Insurance Corporation of India (LIC) that has a disproportionate market share even two decades after the country opened up the
Life insurers’ new premium income up nearly 7% in Q1
IPO-bound Life Insurance Corporation of India (LIC) reported a 2.54% fall in new premium income in the June quarter, at ₹35,600 crore. For the period of June, LIC’s premium fell 4.14% to ₹21,796 crore.
Life insurers report 4% rise in new year premium in June at Rs 30,009 cr
There are total 24 life insurance companies in the country. Of these, the country's largest and the only state-owned insurer Life Insurance Corporation of India (LIC) reported 4.14 per cent fall in new premium income in June 2021 at Rs 21,796.28 crore as against Rs 22,736.84 crore in the year-ago month.
Short-term yields drop as forward premiums soften
Banks are increasing bets on these securities in anticipation that a rate increase, if any, will be a reality only in FY2023.
How US bonds triggered rupee rout on Friday
The local unit lost nearly 1.5 percent, the sharpest drop in value against the dollar since March 23, the day when New Delhi imposed a nationwide lockdown last year to prevent the virus from spreading.
GIC Re Q1 profit down 86% at Rs 108 crore
The insurer had registered a net profit of Rs 770 crore in the corresponding period of the last financial year.
Life cover sales grow flat, ticket sizes rise
Insurers focus on high-ticket savings business as core profitability remains under pressure due to competition.
Load More
