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ICICI Lombard Q4 results: Net profit falls 10% YoY to Rs 313 crore

ICICI Lombard Q4 results: Net profit falls 10% YoY to Rs 313 crore

ICICI Lombard Q4 results: Net profit falls 10% YoY to Rs 313 crore
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By CNBC-TV18 Apr 21, 2022 9:15:45 PM IST (Updated)

The gross direct premium income (GDPI) of the company stood at Rs 4,666 crore in the quarter under review as compared to Rs 3,478 crore in the year-ago period, ICICI Lombard said in a statement.

ICICI Lombard General Insurance Company, one of India's leading private general insurance companies, on Thursday reported a 10 percent year-on-year (YoY) drop in net profit at Rs 313 crore for the fourth quarter ended March 31, 2022.

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In the corresponding quarter last year, the company posted a net profit of Rs 346 crore.
The gross direct premium income (GDPI) of the company stood at Rs 4,666 crore in the quarter under review as compared to Rs 3,478 crore in the year-ago period, ICICI Lombard said in a statement.
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The company has proposed a final dividend of Rs 5 per share for FY22, it said, adding that the overall dividend including the proposed final dividend is Rs 9 per share.
The solvency ratio was 2.46 times at March-end 2022 as against 2.45 times on December 31, 2021, and higher than the minimum regulatory requirement of 1.50 times
. The solvency ratio was 2.90 times on March 31, 2021. For the full year 2021-22, the profit after tax or net profit declined 14 percent to Rs 1,271 crore from Rs 1,473 crore in the preceding fiscal year.
The results came after the close of the market hours. Shares of ICICI Lombard ended at Rs 1,400.30, up by Rs 35.65, or 2.61 percent on the BSE.
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