ICICI Lombard General Insurance Company tumbled 4.72% to Rs 1334.15 after the company's net profit for the quarter ended 31 March 2022 declined 9.6% to Rs 312.51 crore.
The company had reported a net profit of Rs 345.68 crore in the same period of the previous fiscal.
Total income increased by 32.3% YoY to Rs 4801.32 crore in Q4 FY22.
Gross Direct Premium Income (GDPI) of the company stood at Rs 4,666 crore in Q4 FY22 as against Rs 3,478 crore in Q4 FY21, up 34.2% YoY. Excluding crop segment, GDPI of the company was at Rs 4,655 crore in Q4 FY22 as compared with Rs 3,478 crore in Q4 FY21, up 33.8% YoY.
Capital gains were at Rs 136 crore in Q4 FY22 as against Rs 66 crore in Q4 FY2021.
The combined ratio stood at 103.2% in Q4 FY22 as against 101.8% in Q4 FY21
Profit before tax (PBT) in Q4 FY22 stood at Rs 410 crore, down by 8.8% from Rs 450 crore in Q4 FY21.
The general insurer reported 13.7% fall in net profit to Rs 1,271.01 crore despite 32.8% rise in total income to Rs 16,836.02 crore in FY22 over FY21.
Return on average equity (ROAE) was 14.7% in FY2022 as against 21.7% in FY2021.
Solvency ratio was 2.46x at 31 March 2022 as against 2.45x at 31 December 2021 and higher than the minimum regulatory requirement of 1.50x. Solvency ratio was 2.90x at 31 March 2021.
The board of directors of the company has proposed final dividend of Rs 5 per share for FY2022.
"The effect of the de-merger in the financials has been incorporated in the form of opening net worth as on 1 April 2021. Further, the financials for the current year represent numbers of the merged entity. The comparative numbers for the previous year in the financials pertain to standalone ICICI Lombard and hence are not comparable, ICICI Lombard said in a statement.
ICICI Lombard General Insurance Company operates as a non-life insurer. The company offers motor, health, travel, business, personal accident, and home insurance, as well as claim settlements and renewals services.
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