ICICI Lombard General Insurance Company on Friday reported a consolidated net profit growth of 68% for the quarter ended December 31, 2024. The profit after tax (PAT) stood at Rs 724.38 crore versus Rs 431.46 crore reported in the year-ago period. The total income from operations in Q3FY25 stood at Rs 5,883 crore, witnessing a 17% gain over Rs 5,004 crore posted in the year-ago period.
On a sequential basis, the bottom line witnessed a growth of 4.4% versus Rs 694 crore reported in Q2FY25. The topline growth on QoQ basis was at 0.55% over Rs 5,004 crore reported in the July-September quarter.
The gross direct premium income (GDPI) of the company was reported at Rs 6,214 crore in Q3FY2025 as against Rs 6,230 crore in Q3 FY2024, which was a de-growth of 0.3%, as against the industry growth of 9.5%.
“Excluding the impact of 1/n, GDPI of the company grew by 4.8% for Q3 FY2025,” the company filing said.
The combined ratio was reported at 102.7% in Q3 FY2025 as against 103.6% in Q3 FY2024.
The profit before tax (PBT) grew at 67.3% to Rs 960 crore in Q3 FY2025 as against Rs 574 crore in Q3 FY2024.Return on average equity (ROAE) was at 21.5% in Q3 FY2025 compared to 15.3% in Q3 FY2024.Capital gains were at Rs 276 crore in Q3 FY2025 as against Rs 108 billion in Q3 FY2024.
The solvency ratio was 2.36x as of December 31, 2024, as against 2.65x on September 30, 2024, and higher than the minimum regulatory requirement of 1.50x. The solvency ratio was 2.62x as of March 31, 2024.
The earnings were announced post the market hours and ICICI Lombard shares on Friday ended at Rs 1,955 on the NSE, up by Rs 47.10 or 2.47% over Thursday’s closing price.
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