ICICI Lombard posts net profit of Rs.968 crore in April-Sept 2023

ICICI Lombard General Insurance has posted a net profit of Rs.968 crore in April-Sept 2023. The company recorded a net profit of Rs.940 crore during the corresponding period last year.

In terms of profit before tax, the company has seen its profitability increased to Rs.1284 crore in April-Sept 2023 as against Rs.1075 crore in April-Sept 2022.

The growth in profitability has come from increased gross direct premium income which went up by 18%.

Let’s look at some key numbers

• The general insurer posted net profit of Rs.580 crore in July-Sept 2023
• Profit before taxation has also increased to Rs.764 crore
• The company has declared dividend of Rs.5 per share