ICICI Lombard Q1 profit rises 35% to ₹289 crore1 min read . Updated: 17 Jul 2018, 10:34 PM IST
The gross premium collected by the ICICI Lombard grew by 14% to Rs3,856 crore in the June quarter of 2018-19 as against Rs3,394 crore in the year-ago period
New Delhi: ICICI Lombard General Insurance on Tuesday reported a 35.1% rise in its profit to ₹ 289 crore in first quarter ended June of this fiscal. The company's net profit in the corresponding April-June quarter of 2017-18 was at ₹ 214 crore.
The gross premium collected by the general insurer grew by 14% to Rs3,856 crore in the June quarter of 2018-19 as against Rs3,394 crore in the year-ago period, the company said in a regulatory filing.
The shareholders have approved a final dividend of ₹ 2.50 per equity share for the year ended March 2018, the company said in the filing.
The return on average equity (ROAE) was 24.7% in first quarter of this fiscal compared to 22.4% during the same period a year earlier.
Stock of the company closed 3.52% higher at₹736.10 on BSE on Tuesday.