ICICI Lombard plummets ~6% on disappointing Q4FY22 results

22 Apr 2022 , 03:16 PM

ICICI Lombard’s counter slipped nearly 6% in today’s trade as the company announced its results for the quarter and financial year ended March 2022.

Gross Direct Premium Income (GDPI) of the Company stood at Rs179.77 billion in FY22 as against Rs140.03 billion in FY21. Excluding the crop segment, the GDPI of the Company was at Rs173.11 billion in FY22 as against Rs139.71 billion in FY21.

GDPI of the Company stood at Rs46.66 billion in Q4FY22 as compared to Rs34.78 billion in Q4FY21. Excluding the crop segment, the GDPI of the Company was reported at Rs46.55 billion in Q4FY22 as against Rs34.78 billion in Q4FY21.

Profit before tax (PBT) was reported at Rs16.84 billion in FY22 as compared to Rs19.54 billion in FY21, down by 13.82% yoy. Whereas PBT stood at Rs4.10 billion in Q4FY22 as compared to Rs4.50 billion in Q4FY21, reporting a decline of 8.89% yoy.

Profit after tax (PAT) was Rs12.71 billion in FY22, down by 13.71% yoy as against Rs14.73 billion in FY21. While PAT came in at Rs3.13 billion in Q4FY22, down by 9,54% yoy as compared to Rs3.46 billion in Q4FY21.

The Board of Directors of the Company has proposed a final dividend of Rs5.00 per share for FY22, subject to shareholders’ approval.

ICICI Lombard is currently trading at Rs1,317.15 down by Rs83.15 or 5.94% from its previous closing of Rs1,400.30 on the BSE. It touched day’s high and low of Rs1,358 and Rs1,313.40 respectively.