ICICI Lombard Q1 profit drops 46% due to fire losses
pre-market1 source ↓written by the desknot a recommendation
- in net profit
- 46% decline
- falling
- ₹403 cr
- YoY
- ₹747 cr
- in fire losses
- ₹63 cr
- increase in reserves
- ₹165 cr
ICICI Lombard General Insurance reported a 46% decline in net profit for Q1 FY2027, falling to ₹403 cr from ₹747 cr YoY. The drop was driven by ₹63 cr in fire losses and a ₹165 cr increase in reserves due to a Supreme Court ruling on Motor Third Party claims, impacting the combined ratio significantly.
This sharp decline may affect investor sentiment and raise concerns about the company's profitability in the near term. 📉
Not investment advice. For informational purposes only.