''ICICI Lombard General Insurance Company has posted strong 49% surge in the net profit to Rs 580.37 crore in the quarter ended June 2024 (Q1FY2025). PBT grew by 49% to Rs 773.99 crore in Q1FY2025 as against Rs 520.01 crore in Q1FY2024.
Gross Direct Premium Income (GDPI) of the Company was at Rs 7688 crore in Q1FY2025 as against Rs 6387 crore in Q1FY2024, showing growth of 20%. This growth was higher than industry growth of 13%. Excluding crop and mass health, GDPI growth of the Company was at 20%, which was higher than the industry growth of 15% in Q1FY2025.
The operating profit of the company jumped 51% to Rs 501.47 crore in Q1FY2025, driven by motor segment registering 21% surge to Rs 374.70 crore and fire posting growth of 15% to Rs 120.30 crore. The operating profit of miscellaneous segment rebounded to Rs 46.71 crore from loss of Rs 2.77 crore in Q1FY2024. However, the marine segment posted operating loss of Rs 11.72 crore, health Rs 27.00 crore and cro...
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(18-Nov-2024)
Bharat Forge
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