Business News

New Delhi, ICICI Lombard on Tuesday reported a 2 per cent decline in net profit to Rs 510 crore for the fourth quarter ended March 31. The company had reported a post-tax net profit of Rs 520 crore in the year-ago period. However, the total income of the company rose to Rs 5,851 crore in the quarter under review compared to Rs 5,165 crore in the year-ago period. The gross direct premium income of the company improved to Rs 6,211 crore against Rs 6,073 crore in the same quarter a year ago, registering a growth of 2.3 per cent. The board have recommended a final dividend of Rs 7 per equity share or 70 per cent of face value of Rs 10 each for the financial year ended March 31, 2025, ICICI Lombard said in a regulatory filing. The solvency ratio was 2.69 times at March-end 2025 against 2.62 times on March 31, 2024, higher than the minimum regulatory requirement of 1.5 times.