ICICI Lombard Q4 PAT down -9.6% to Rs312.51cr on higher operating costs and claims paid

24 Apr 2022 , 08:30 AM

ICICI Lombard GI reported 32.87% growth yoy in total revenues for the Mar-22 quarter on consolidated basis at Rs4,636.34cr. On a sequential basis, the revenues were higher for the quarter by 20.30%.

For full year FY22, the Gross Direct Premium Income (GDPI) stood at Rs17,977cr compared to Rs14,003cr last year. In Q4, the GDPI stood at Rs4,666cr compared to Rs3,478cr in Q4FY21.

In FY22, the capital gains more than doubled to Rs738cr. The board has recommended final dividend of Rs.5/share, taking total dividend for the year to Rs9.

The consolidated net profit for Q4 was down -9.6% to Rs312.51cr, while the profits were down by -1.58% on a sequential basis.

The profits of ICICI Lombard at an operating level were negatively impacted by a spike in operating costs in the fourth quarter as well as a sharp spike in the net claims paid out.

FY22 ROAE fell from 21.7% to 14.7% yoy. Net margins stood at 6.74% in Mar-22 quarter compared to 9.91% in Mar-21. The net profit margins were lower by 150 basis points on a sequential basis, compared to Dec-21 quarter.

Financial highlights for Mar-22 compared yoy and sequentially

	ICICI Lombard
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 4,636.34	₹ 3,489.39	32.87%	₹ 3,854.14	20.30%
Net Profit (Rs cr)	₹ 312.51	₹ 345.68	-9.60%	₹ 317.53	-1.58%
Diluted EPS (Rs)	₹ 6.35	₹ 7.57		₹ 6.44
Net Margins	6.74%	9.91%		8.24%