ICICI Lombard Q1 results: Net profit falls 61.91% YoY to Rs 151.63 crore

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The total income, however, rose to Rs 3,246.90 crore in the first quarter of this fiscal from Rs 2,729.67 crore in the year-ago period, according to a regulatory filing.

ICICI Lombard Q1 results: Net profit falls 61.91% YoY to Rs 151.63 crore
The country's largest private-sector non-life insurer ICICI Lombard General Insurance on Thursday reported a 61.91 percent year-on-year (YoY) drop in net profit at Rs 151.63 crore for the first quarter ended June 30.
In the corresponding quarter last year, the Mumbai-headquartered company posted a net profit of Rs 398 crore.
The total income, however, rose to Rs 3,246.90 crore in the first quarter of this fiscal from Rs 2,729.67 crore in the year-ago period, according to a regulatory filing.
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In line with the industry growth, the gross direct premium income (GDPI) grew 13 percent YoY to Rs 3,733 crore. The solvency ratio was 2.76 on June 30, 2021, as against 2.90 on March 31, 2021. This was higher than the minimum regulatory requirement of 1.50.
The return on average equity (ROAE) was 8.1 percent in the first quarter of this fiscal compared to 25.1 percent during the same period a year earlier.
The results came after the close of the market hours. Shares of ICICI Lombard General Insurance ended at Rs 1,542.00, up by Rs 64.10, or 4.34 percent on the BSE.

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CompanyPriceChng%Chng
ICICI Bank676.65 20.70 3.16
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SBI Life Insura1,050.45 24.45 2.38
SBI428.90 6.85 1.62
CompanyPriceChng%Chng
ICICI Bank676.65 20.85 3.18
ITC212.35 5.30 2.56
SBI429.15 7.15 1.69
HCL Tech994.25 15.65 1.60
Axis Bank755.25 8.75 1.17
CompanyPriceChng%Chng
ICICI Bank676.65 20.70 3.16
ITC212.40 5.40 2.61
Wipro599.15 14.95 2.56
SBI Life Insura1,050.45 24.45 2.38
SBI428.90 6.85 1.62
CompanyPriceChng%Chng
ICICI Bank676.65 20.85 3.18
ITC212.35 5.30 2.56
SBI429.15 7.15 1.69
HCL Tech994.25 15.65 1.60
Axis Bank755.25 8.75 1.17

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