ICICI Prudential Life Q3: Profit Jumps 20%, Share Price Soars to 700!

• ICICI Prudential Life Insurance reported strong Q3 results with significant growth in profit and business.
• Net profit increased by 20% year-on-year, from 326 crore to 390 crore rupees.
• Value of New Business (VNB) rose by 19% to 615 crore rupees, indicating strengthening new business.
• Total Annualized Premium Equivalent (APE) grew from 2,438 crore to 2,525 crore rupees.
• VNB margin improved to 24.4% from 21.2%, showing better profitability from new business.

Why It Matters: ICICI Prudential Life's Q3 results exceeded expectations, driving a share price surge and strong growth.