ICICI Lombard Q2 Net Profit Rises 15.5% to 946 Crore Rupees
ICICI Lombard General Insurance Co. Ltd. (NSE:ICICIGI) reported a 15.5% increase in net profit for the second quarter ended September 30, reaching 946 crore rupees compared to 820 crore rupees in the same period a year earlier. The profit growth was largely driven by robust expansion in its motor and commercial insurance segments. Net premium earned grew 17.7% to 6,652 crore rupees, up from 5,652 crore rupees in the prior-year quarter.
Top-line expansion showed a mixed picture during the quarter. Gross premium income rose 3% to 6,792 crore rupees from 6,596 crore rupees a year ago, lagging behind the broader industry growth rate of 7%. Despite the slower gross premium expansion, improved earned premiums and segment momentum allowed the insurer to deliver double-digit bottom-line growth. Alongside the earnings report, the company announced a dividend of 7 rupees per share for the first half of the financial year.
Investors will look to see whether the insurer can accelerate its gross premium growth to match or exceed the broader market average in coming quarters while sustaining strength in motor and commercial lines. Market participants will also monitor underwriting profitability and premium trends across core insurance categories as economic activity shapes demand.
Key points
- Net profit rose 15.5% year-over-year to 946 crore rupees for the second quarter ended September 30.
- Net earned premiums increased 17.7% to 6,652 crore rupees from 5,652 crore rupees in the prior-year period.
- Gross premium income grew 3% to 6,792 crore rupees, trailing the overall industry growth rate of 7%.
- The company declared a dividend of 7 rupees per share for the first half of the financial year.
- Earnings momentum was supported by strong performance in motor and commercial insurance lines.
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What was ICICI Lombard's net profit for Q2?
ICICI Lombard reported a second-quarter net profit of 946 crore rupees, representing a 15.5% increase compared to 820 crore rupees in the same period last year.
Did ICICI Lombard declare a dividend?
Yes, ICICI Lombard announced a dividend of 7 rupees per share for the first half of the financial year.
How fast did ICICI Lombard's gross premium income grow?
Gross premium income rose 3% to 6,792 crore rupees in the quarter, compared with an overall industry growth rate of 7%.