ICICI Lombard General Insurance Company announced its financial results for the second quarter of fiscal year 2024-25 (July to September) on October 18. The company reported a net profit of ₹694 crore, which is a 20.2% increase from ₹577 crore in the same quarter last year.
Total income also rose by 15.8% to ₹5,850 crore, up from ₹5,049 crore a year earlier. The company declared an interim dividend of ₹5.5 per share, representing 55% of the face value of ₹10 each. This dividend will be paid to shareholders on or before November 16, with a record date of October 28.
ICICI Lombard’s written gross premium increased by 10.7% to ₹6,948 crore compared to ₹6,272 crore in the same quarter last year. Net premium rose by 14% to ₹4,835 crore from ₹4,240 crore in the same period.
The total expenditure for the company increased by 16.4% to ₹5,186 crore, compared to ₹4,452 crore in the same quarter a year ago. The basic earnings per share (EPS) also rose to ₹14.05, up from ₹11.75 in the same quarter last year.
ICICI Lombard is a private general insurance company formed as a joint venture between ICICI Bank and Fairfax Financial Holdings Limited. It provides various types of insurance, including car, health, travel, and property insurance. In its previous quarterly results, the company reported a profit increase of 48.68% and an 18.08% rise in revenue.
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