Published on 17/01/2020 5:22:40 PM | Source: Dion Global Solutions Ltd

ICICI Lombard Gen. Q3 net profit up 22.99% at Rs 294.11 cr

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The company reported standalone net profit of Rs 294.11 crore for the quarter ended December 31, 2019 as compared to Rs 239.14 crore in the same period last year, registering a year-on-year growth of 22.99 per cent.

Net revenue of the company rose moderately by 15.85 per cent at Rs 320.70 crore in October-December quarter of this fiscal as against Rs 276.83 crore in the corresponding period last year. During October-December quarter, operating expenses increased by 109.26 per cent to Rs 46.77 crore from Rs 22.35 crore in year ago period.

Other Income grew by 38.04 per cent at Rs 15.35 crore versus (Dec'18 Rs 11.12 crore). Operating Profit surged by 7.16 per cent to Rs 374.57 crore as against Rs 349.55 crore in the year ago period, while Operating Profit Margin (OPM) contracted year-on-year to 7.50 per cent in December quarter. Taxation decreased by 21.16 per cent at Rs 95.81 crore (Dec'18 Rs 121.53 crore).