 "ICICI Lombard")
Disappointing results have led to a sell-off in ICICI Lombard General Insurance but the sector analysts seem to think there may be a case for buying. The insurer reported a 10 per cent year-on-year (YoY) decline in profit after tax (PAT) at Rs 313 crore for Q4, 2021-22 versus a PAT of Rs 346 crore in Q4, 2020-21. The street consensus expectation had been PAT of around Rs 345 crore, which led to a selloff.
The gross direct premium income (GDPI) stood at Rs 4,666 crore compared to Rs 3,478 crore YoY. The key solvency ratio was 2.46 times, slightly
