A GST SCN of Rs 288 crore for FY 2020 has been received by ICICI Lombard General Insurance Company Ltd.
In the 4th quarter of FY24, ICICI Lombard General Insurance Company’s topline increased by 1.29 percent and the profit has swelled 18.89 percent YoY.
The revenue increased by 3.13 percent and the profit grew by 20.41 percent in the third quarter.
The Selling, general, and administrative expenses decreased by 22.37 per cent q-o-q and declined by 59.48 per cent Y-o-Y.
The q-o-q operating income grew by 29.87 per cent and declined by 52.46 per cent Y-o-Y.
The promoter of Bharti Enterprises this month, offloaded the shares of ICICI Lombard General Insurance company for Rs 663 crore through open market transactions.
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Nearly 38.50 lakh shares are been sold by the company, amounting to a 0.8% stake in the general insurer via 9 separate block deals on the BSE.
At an average price of ₹1,722.5 apiece the shares were sold carrying the deal size to Rs 663.16 crore.
The shares of Mumbai-based general insurer are been acquired by Axis Mutual Fund (MF), Aditya Birla Sun Life MF, Invesco MF, Morgan Stanley Asia Singapore, Societe Generale, Goldman Sachs Singapore, and Blackstone Aqua Master Sub-Fund.
Bharti Enterprises’ stake in ICICI Lombard reduced to 1.63 per cent from 2.43 per cent post the selling of shares.
21 lakh shares have been purchased by ICICI Bank, showing a 0.4% stake in its subsidiary ICICI Lombard, for ₹361.72 crore.
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ICICI Bank’s stakeholding in its subsidiary increased to 51.7 per cent from 51.27 per cent, post buying the stake.
ICICI Lombard General Insurance Company shares increased 0.87 per cent to close at Rs 1,662.00 apiece.