ICICI Lombard posts a marginal 1.28% rise in Q3 net profit to Rs 318 cr

Sequentially, net profit was down 29%

The country’s largest private sector general insurer, ICICI Lombard General Insurance, has reported a marginal 1.28 per cent increase in net profit to Rs 318 crore in the October–December quarter (Q3FY22), missing street estimates. Analysts at Bloomberg had estimated a net profit of Rs 402.50 crore. Sequentially, the net profit was down 29 per cent.

It’s gross direct premium income rose 16 per cent to Rs 4,699 crore in the reporting quarter as against Rs 4,034 crore in the corresponding period of previous financial year and investment income saw a 20 per cent growth to Rs 532.23 crore.

However, its