ICICI Lombard General Insurance dips 5% post June quarter earnings

The country's largest private sector general insurer reported 80 per cent YoY growth in net profit at Rs 349 crore in Q1FY23 on the back of a healthy growth in premium income.

Shares of ICICI Lombard General Insurance Company dipped 5 per cent to Rs 1,207 on the BSE in Wednesday’s intra-day trade in an otherwise firm market despite reporting healthy earnings in April-June quarter of FY23. The stock has corrected 7 per cent from its opening level of Rs 1,293. In comparison, the S&P BSE Sensex was up 1.4 per cent at 55,515 at 01:47 PM.

The country’s largest private sector general insurer reported 80 per cent year-on-year (YoY) growth in net profit at Rs 349 crore in Q1FY23 on the back of a healthy growth in premium income. In