ICICI Lombard Reports Mixed Financial Results for Q4

ICICI Lombard reported a 2% decline in net profit to Rs 510 crore for the fourth quarter ended March 31, compared to Rs 520 crore a year earlier. Total income rose to Rs 5,851 crore, and gross direct premium income increased by 2.3% to Rs 6,211 crore. A final dividend was announced.

ICICI Lombard's financial performance for the fourth quarter reflected a mixed outcome. The company reported a 2% reduction in net profit, amounting to Rs 510 crore, down from Rs 520 crore in the same period last year.

Despite the dip in net profit, ICICI Lombard witnessed a rise in total income, which reached Rs 5,851 crore, up from Rs 5,165 crore previously. Furthermore, the gross direct premium income saw a modest growth of 2.3%, totaling Rs 6,211 crore.

The board announced a final dividend of Rs 7 per equity share while maintaining a healthy solvency ratio of 2.69 times, exceeding the regulatory requirement. This financial posture positions ICICI Lombard well for future stability.

(With inputs from agencies.)