ICICI Prudential Q3 Profit Rises, LTIMindtree Revenue Surges — Earnings Wrap

ICICI Prudential Life Insurance Co.'s third quarter profit increased 2% year-on-year, even as its value of new business declined 29%.

The private insurer's net profit stood at Rs 227 crore in the quarter ended December, according to an exchange filing on Wednesday. Sequentially, the bottom line contracted 7%.

The firm's net premium rose 5% year-on-year to Rs 9,929 crore.

LTIMindtree Ltd.'s net profit stayed flat in the October–December quarter, even as the top line showed a marginal uptick.

Revenue of the L&T Group firm rose 1.24% over the previous three months to Rs 9,016.6 crore in the quarter ended December, according to an exchange filing on Wednesday. That compares with the Rs 9,076.7 crore consensus estimate of analysts tracked by Bloomberg.

Here are the major quarterly results announced after market hours on Wednesday:

IIFL Finance Q3 FY24 (Consolidated, YoY)

• Revenue at Rs 2,647.48 crore vs Rs 2,120.86 crore, up 24.83%.

• Net profit at Rs 545.19 crore vs Rs 423.21 crore, up 28.82%.

• Gross NPA: 1.71% vs 1.84% (QoQ).

• Net NPA: 0.87% vs 1.02% (QoQ).

• Announced an interim dividend of Rs 4 per equity share on record date of Jan. 25.

LTI Mindtree Q3 FY24 (Consolidated, QoQ)

• Revenue at Rs 9,016.6 crore vs Rs 8,905.4 crore, up 1.24% (Bloomberg estimate Rs 9,076.7 crore).

• EBIT at Rs 1,385.9 crore vs Rs 1,423.1 crore, down 2.62% (Bloomberg estimate: Rs 1,458 crore).

• Margin at 15.37% vs 15.98% (Bloomberg estimate: 15.9%).

• Net profit at Rs 131.65 crore vs Rs 159.03 crore, down 17.21% (Bloomberg estimate: Rs 1,191.3 crore).

Happiest Minds Q3 FY24 (Consolidated, QoQ)

• Revenue at Rs 409.9 crore vs Rs 406.6 crore, up 0.8% (Bloomberg estimate: Rs 410.7 crore).

• EBIT at Rs 66.1 crore vs Rs 68.1 crore, down 2.9% (Bloomberg estimate: Rs 69 crore).

• Margin at 16.12% vs 16.74% (Bloomberg estimate: 16.8%).

• Net profit at Rs 59.6 crore vs Rs 58.5 crore, up 1.9% (Bloomberg estimate: Rs 59.5 crore).

Alok Industries Q3 FY24 (Consolidated, YoY)

• Revenue at Rs 1,253.03 crore vs Rs 1,717.6 crore, down 27.05%.

• Ebitda loss at Rs 5.5 crore vs loss of Rs 42.4 crore.

• Net loss at Rs 229.92 crore vs loss of Rs 249.83 crore.

ICICI Prudential Life Insurance Q3 FY24 (Consolidated, YoY)

• Net premium income at Rs 9,928.8 crore vs Rs 9,464.5 crore, up 4.9%.

• Net profit at Rs 226.92 crore vs Rs 221.56 crore, up 2.4%.

• VNB at Rs 436 crore vs Rs 618 crore, down 29.4%.

• VNB margin at 22.8% vs 33.9% YoY.

• AUM at Rs 2.8 lakh crore vs Rs 2.5 lakh crore, up 12%.

Oracle Financial Services Software Q3 FY24 (Consolidated, QoQ)

• Revenue at Rs 1,823.6 crore vs Rs 1,444.5 crore, up 26.2%.

• EBIT at Rs 849.6 crore vs Rs 539.1 crore, up 57.6%.

• Margin at 46.58% vs 37.32%, up 926 bps.

• Net profit at Rs 740.8 crore vs Rs 417.4 crore, up 77.5%.