{"id":6992,"date":"2020-07-17T22:27:38","date_gmt":"2020-07-17T22:27:38","guid":{"rendered":"https:\/\/bengalnewstimes.com\/?p=6992"},"modified":"2020-07-17T22:27:38","modified_gmt":"2020-07-17T22:27:38","slug":"icici-lombard-general-insurance-q1fy21-results-net-profit-increases-by-28-5-yoy","status":"publish","type":"post","link":"https:\/\/bengalnewstimes.com\/?p=6992","title":{"rendered":"ICICI Lombard General Insurance Q1FY21 results; net profit increases by 28.5% yoy"},"content":{"rendered":"

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\n\t\"Quarterly<\/div>\n

ICICI Lombard General Insurance announced its quarterly results on July 17, 2020. Gross Direct Premium Income (GDPI) of the company stood at Rs3,302cr in Q1FY21 which declined by 5.3% yoy compared to Rs3,487cr in Q1FY20.<\/p>\n

Excluding the crop segment, GDPI of the company recorded was at Rs3,274cr in Q1FY21 which declined by 6.2% yoy compared to Rs3,488cr in Q1FY20. The decline across the industry was mainly due to Covid-19 pandemic.<\/p>\n

The operating profit stood at Rs443.99cr which increased by 18.06% yoy from Rs374.33cr reported in Q1FY20. Profit after tax (PAT) grew by 28.5% to Rs398cr in Q1FY21 compared to Rs310cr in Q1FY20.<\/p>\n

Combined ratio of the company stood at 99.7% in Q1FY21 reduced by 0.7% yoy compared to 100.4% in Q1FY20 which was primarily driven by Covid-19 pandemic despite losses incurred due to catastrophic events. Solvency ratio stood at 2.50x in Q1FY21 as against 2.2x in Q1FY20, which is higher than the minimum regulatory requirement of 1.50x.<\/p>\n

The stock closed at Rs1,288.8 with a growth of 3.15% on BSE<\/p>\n\n\n\n\n\n\n\n\n

\n\t\t\t\tParticulars<\/strong><\/td>\n

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\n\t\t\t\tQ1FY21<\/strong><\/td>\n

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\n\t\t\t\tQ1FY20<\/strong><\/td>\n

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\n\t\t\t\t% variance<\/strong><\/td>\n


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\n\t\t\t\tGDPI<\/strong><\/td>\n

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\n\t\t\t\t3,302.00<\/td>\n

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\n\t\t\t\t3,487.00<\/td>\n

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\n\t\t\t\t-5.3<\/td>\n


\n\t\t<\/tr>\n


\n\t\t\t\tOperating Profit<\/strong><\/td>\n

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\n\t\t\t\t443.99<\/td>\n

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\n\t\t\t\t374.33<\/td>\n

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\n\t\t\t\t18.06<\/td>\n


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\n\t\t\t\tPAT<\/strong><\/td>\n

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\n\t\t\t\t398.00<\/td>\n

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\n\t\t\t\t310.00<\/td>\n

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\n\t\t\t\t28.5<\/td>\n


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\n\t\t\t\tCombined Ratio (%)<\/strong><\/td>\n

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\n\t\t\t\t99.7<\/td>\n

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\n\t\t\t\t100.4<\/td>\n

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\n\t\t\t\t-0.7<\/td>\n


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\n\t\t\t\tSolvency Ratio<\/strong><\/td>\n

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\n\t\t\t\t2.5<\/td>\n

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\n\t\t\t\t2.2<\/td>\n

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\n\t\t\t\t0.3<\/td>\n


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Related Story<\/p>\n


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