ICICI Lombard Q2 results: Net profit dips 2.2% YoY to ₹577.3 crore, declares interim dividend
ICICI Lombard Q2 results: ICICI Lombard General Insurance released their July-September quarter results on Wednesday and reported a 2.2% year-on-year dip in net profits which declined from ₹590.5 crore during Q2FY23 to ₹577.3 crore during the quarter under review. The company also declared a interim dividend of ₹5 per equity share.
ICICI Lombard had a good quarter when it comes to Gross Direct Premium Income (GDPI) which rose by 17.4% YoY to ₹6,086 crore in Q2FY24 from ₹5,185 crore during the same quarter a year ago. ICC Lombard also shared the half yearly results along with quarterly and reported 3% rise in net profit to ₹968 crore during H1FY24 compared to ₹940 crore during H1FY23.
In terms of GDPI, the half yearly growth is good at 18.2% YoY. The GDPI of ICICI Lombard grew from ₹10,555 crore during H1FY23 to ₹12,472 crore during H2FY24.
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