ICICI Lombard General Q4 Profit Soars 40% To Rs 437 Crore

ICICI Lombard General Insurance Company on April 18 reported a 40 percent rise in its net profit at Rs 437 crore for the fourth quarter ended March 2023, according to a PTI report.

The non-life insurer had posted a net profit of Rs 313 crore in the corresponding period of 2021-22, stated the PTI report.

The total income of the company stood at Rs 5,255.58 crore in the quarter under review as compared to Rs 4,636 crore in the year-ago period, ICICI Lombard said in a regulatory filing.

ICICI Lombard General Insurance Company Ltd recommended 55.0% final dividend on Tuesday. Last trading price of the stock is Rs 1130.55 apiece on BSE. The board of directors of the company stated in the regulatory filing dated April 18, 2023, "The Board at the above Meeting also recommended final dividend of~ 5.50/- per equity share i.e. at the rate of 55.0% of face value of~ 10/- each for the financial year ended March 31, 2023, subject to approval of the Members of the Company at the ensuing Annual General Meeting."

The stock's 52-week high price is Rs 1410.55 apiece and 52-week low price is Rs 1049.10 apiece, respectively. The company has a market capitalisation of Rs 55,524.94 crore. The stock declined 16% in last 1-year, 20% in last 2-years, and 5% in last 3-years. It gave a return of 47% in last 5-years.

Solvency ratio was 2.5 times at March-end 2023 as against 2.45 times on March 31, 2022 and higher than the minimum regulatory requirement of 1.50 times, added the PTI report.