ACC s consolidated net profit surged 74.2% to Rs 563 crore on 22.7% increase in net sales to Rs 4,213 crore in Q1 FY21 over Q1 FY20. Cement sales volume jumped 21.49% to 7.97 million tonnes in Q1 FY21 as against 6.56 million tonnes in Q1 FY20. Sale of ready mix concrete dropped 10.75% to 0.83 million cubic metres in Q1 FY21 compared with 0.93 million cubic metres in Q1 FY20.
On a consolidated basis, the cement major s EBITDA jumped 46.75% to Rs 860 crore in Q1 FY21 as against Rs 586 crore in Q1 FY20. EBITDA margin improved to 20.4% in Q1 FY21 as compared to 17.1% in Q1 FY20. Operating EBIT soared 67.13% to Rs 717 crore in Q1 FY21 as against Rs 429 crore in Q1 FY20.
On a consolidated basis, ICICI Prudential Life Insurance Company net profit tanked 65% to Rs 62.51 crore on 364.6% surge in total income to Rs 19,898.29 crore in Q4 FY21 over Q4 FY20.
On a standalone basis, the net profit tumbled 64.5% to Rs 63.78 crore on 364.5% surge in total income to Rs 19,897.44 crore in Q4 FY21 over Q4 FY20. The company s net premium income increased by 13.40% to Rs 11,879.28 crore in Q4 FY21 over Rs 10,475.12 crore in Q3 FY20.
New business Annualised Premium Equivalent (APE) grew 27% Y-o-Y (year-on-year) in Q4 FY2021 to Rs 2,509 crore, on the back of 108% Y-o-Y growth in March 2021 to Rs 1,101 crore.
New business sum assured jumped 22.1% Y-o-Y to Rs 2,05,184 crore in Q4 FY2021 along with an expansion in new business premium by 22.9% to Rs 5,133 crore in the same period. The company was able to strengthen its position as the private sector market leader in terms of new business sum assured, with a market share of 13% in 11M FY2021, rising 11.8% from FY2020.
Key benchmark indices are trading firm in early trade on buying demand in index pivotals. At 9:25 IST, the barometer index, the S&P BSE Sensex, was up 373.70 points or 0.78% at 48,323.12. The Nifty 50 index was up 122.40 points or 0.85% at 14,481.85. The Nifty regained the key 14,500 mark in early trade. News of vaccine for all above 18 years of age starting from 1 May 2021 boosted sentiment.
On the coronavirus front, the vaccination drive will be opened up for all citizens above the age of 18 from May 1, the Government of India announced on April 19. The immunisation drive was currently restricted to only citizens aged above 45.
The S&P BSE Mid-Cap index was up 1.62%. The S&P BSE Small-Cap index was up 1.41%.
The domestic equity barometers ended with modest losses after a volatile trade on Tuesday. A record surge in Covid-19 cases and FII outflows from the capital market dented investors sentiment. IT shares saw major selling while banks shares extended recent losses. Auto and pharma stocks bucked the trend.
The barometer index, the S&P BSE Sensex, fell 243.62 points or 0.51% to 47,705.80. The Nifty 50 index lost 63.05 points or 0.44% to 14,296.40. Both these indices have fallen over 2.2% in two straight sessions.
HCL Technologies (down 3.56%), HDFC (down 3.16%), HDFC Bank (down 1.50%) and Infosys (down 0.87%) were major drags.
The broader market settled with gains. The BSE Mid-Cap index and the BSE Small-Cap index rose by 0.49% each.
Shares of ICICI Prudential Life Insurance Company (ICICI Pru) surged 10 per cent to Rs 495 on the BSE in intra-day trade on Tuesday after the company posted a 23 per cent year-on-year (YoY) growth in new business premium during the January-March quarter (Q4FY21), led by steady traction in both regular and single premium business. New business annualised premium equivalent (APE) grew 27 per cent YoY in Q4FY21 to Rs 2,509 crore on the back of 108 per cent YoY growth in March 2021 to Rs 1,101 crore. Assets under Management (AUM) stood at Rs 2.14 trillion as of March 31, 2021, a growth of 40 per cent over March 31, 2020. This is an outcome of the growth in new business, strong persistency and robust fund management, ICICI Pru said in a press release.