ICICI Lombard Q1 profit drops 46% due to higher claims and reserves
ICICI Lombard announced a Q1 FY27 Gross Direct Premium Income (GDPI) of ₹8,318 crore, marking a 7.5% increase compared to the previous year. However, the company's Profit After Tax (PAT) slid by 46% to ₹403 crore. This dip in earnings was driven by ₹63 crore in fire insurance claims and a further ₹165 crore set aside for claims reserves. Following the results, the company's stock touched a new 52-week low of ₹1,544.40, with a trading volume of 1.54 crore shares.
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