We refer to our intimation dated July 15, 2025, wherein the Company has informed stock exchanges about audited financial results of the Company for the quarter ended June 30, 2025.We noticed that there were typographical errors in Note 5 of Notes forming part of Annexure I and Annexure II of the audited financial results. Please find enclosed herewith clarification letter on audited financial results for the quarter ended June 30, 2025.
ICICIGI · price
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ICICI Lombard has issued a correction to its Q1 FY26 audited results filed on July 15, 2025, fixing typographical errors in Note 5. The corrected figures show the impact of recognising gross written premium on a 1/n basis (per new IRDAI regulations effective October 1, 2024) is much larger than originally reported — Gross Premium Written actually decreased by ₹31,975 lakhs (not ₹2,842 lakhs as originally stated). The corrected note also reflects a larger decrease in commissions & brokerage (net) of ₹1,738 lakhs (vs. ₹882 lakhs originally), which boosts Operating Profit by ₹1,738 lakhs and Profit After Tax by ₹1,307 lakhs for the quarter. The company confirms no other financial numbers or disclosures have changed.
The correction significantly increases the reported gross premium decline (roughly 11x larger than originally stated), though the company notes this accounting change itself has no impact on operating profit. Shareholders get a modestly higher PAT figure of ₹1,307 lakhs (up from the originally reported ₹663 lakhs increase) due to the revised commission numbers. The larger headline premium decline is purely a result of the new IRDAI-mandated accounting methodology, not an actual loss of business.