ICICI Lombard Q3 Earnings: Profit Jumps 68% To Rs 724 Crore
ICICI Lombard General Insurance Co. posted a net profit of Rs 724 crore in Q3 FY2025, up 68% from Rs 431 crore a year earlier, with net premium income growing 17.2% to Rs 5,045 crore.
ICICI Lombard General Insurance Co. on Friday reported that its net profit for the third quarter of the financial year 2024-25 witnessed a jump of 68% to Rs 724 crore, according to the company’s exchange filing.
In comparison, the Mumbai-headquartered company had reported a net profit of Rs 431 crore in the previous fiscal’s similar quarter.
ICICI Lombard’s net profit for the nine months ending Dec. 31 climbed 43% to Rs 2,000 crore. This is against the company's net profit for the April-December period of the previous financial year, standing at Rs 1,399 crore.
For the quarter under review, the insurance major’s earned net premium income rose by 17.2%. In the October-December quarter, the ICICI Bank subsidiary’s earned net premium income was Rs 5,045 crore, while for the previous fiscal’s similar period it stood at Rs 4,305 crore.
The net premium income that the company earned in the third quarter witnessed a slight growth of 0.38% compared to the July-September quarter, when the company had earned net premium income of Rs 5,026 crore.
The solvency ratio of the general insurer has come down to 2.36% against the previous quarter, when it stood at 2.65%. However, the company highlighted that its solvency ratio was higher than the minimum regulatory requirement of 1.50%.
Shares of ICICI Lombard General Insurance Co. closed 2.04% higher at Rs 1,947.15 apiece on the BSE, compared to a 0.55% decline in the benchmark Sensex.
