ICICI Lombard PAT rises 11% yoy to Rs 353 crore in Q3FY23; Stock tumbles 4%

18 Jan 2023 , 09:16 AM

ICICI Lombard General Insurance Company Limited has reported financial results for the period ended December 31, 2022.

The company has reported total income of Rs 4362 crore during the period ended December 31, 2022 as compared to Rs 3854.14 crore during the period ended December 31, 2021.

The company has posted net profit of Rs352.53 crore, rising 11% yoy for the period ended December 31, 2022 as against net profit of Rs317.53 crore for the corresponding year of previous year.

During Q3FY23, the combined ratio stood at 104.4%, against 104.5% in the previous financial year, according to an exchange filing.

Further, during the period under review, its gross direct premium income (GDPI) was Rs 5,493 crore, against Rs 4,699 crore in Q3FY22, a growth of 16.9% as against the industry growth of 18.1%.

The company has reported EPS of Rs7.17 for the period ended December 31, 2022 as compared to Rs.6.44 for the period ended December 31, 2021.

On Wednesday early morning trade, ICICI Lombard was trading at Rs1199.40 per share lower by 4.06% on the BSE.

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