ICICI Lombard Q2 Results: ICICI Lombard General Insurance Company declared the July to September for fiscal 2024-25 (Q2FY25) results on Friday, October 18. The company reported a 20.2 per cent rise in net profit at ₹694 crore compared to ₹577 crore in the same quarter the previous year.
The total income in the July to September quarter rose by 15.8 per cent to ₹5,850 crore from ₹5,049 crore in the corresponding period last year.
The insurance company declared an interim dividend of ₹5.5 per equity share, which is 55 per cent of the face value of ₹10 each, for the financial year ended March 31, 2025. The record date for the interim dividend is October 28. The Interim Dividend will be paid to the shareholders on or before Saturday, November 16.
“The interim dividend will be paid to the equity shareholders of the Company, whose names appear in the Register of Members of the Company or in the records of Depositories as beneficial owners of the shares as on the Record date i.e. Monday, October 28, 2024. The Interim Dividend will be paid to the equity shareholders of the Company on or before Saturday, November 16, 2024,” the company said in an exchange filing.
ICICI Lombard reported a 10.7 per cent rise in its written gross premium at ₹6,948 crore from ₹6,272 crore in the same quarter last year.
The net premium rose by 14 per cent at ₹4,835 crore from ₹4,240 crore in the same period last year.
The company reported a rise in total expenditure by 16.4 per cent at ₹5,186 crore from ₹4,452 crore in the corresponding period a year ago.
The basic earnings per share (EPS) are ₹14.05, up from ₹11.75 in the same quarter the previous year.
About ICICI Lombard General Insurance
ICICI Lombard is a private general insurance company, which is a joint venture between ICICI Bank and Fairfax Financial Holdings Limited.
The company offers a range of insurance, such as Car insurance, Bike insurance, Health insurance, Travel insurance, Crop insurance, Fire insurance, Personal accident insurance, Marine insurance, Engineering insurance, and Liability insurance.
The insurance company declared April to June quarter results on July 19, reporting an increase in profit by 48.68 per cent whereas the topline increased by 18.08 per cent on an year on year basis. The revenue in the same quarter grew by 3. 71 per cent on an year on year basis, as Mint reported on July 20.
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