ICICI Pru reports Q1 PAT of <span class='webrupee'>₹</span>156 cr, value of new business rises 32% yoy With APE of ₹1,520 crore, the VNB margin was at 31% for Q1-FY2023 as compared to 28.0% for FY2022. The increase in VNB margin is primarily on account of a shift in the underlying product mix.