Business News

New Delhi, ICICI Lombard on Tuesday reported a 2 per cent decline in net profit to Rs 510 crore for the fourth quarter ended March 31. The company had reported a post-tax net profit of Rs 520 crore in the year-ago period. However, the total income of the company rose to Rs 5,851 crore in the quarter under review compared to Rs 5,165 crore in the year-ago period. The gross direct premium income of the company improved to Rs 6,211 crore against Rs 6,073 crore in the same quarter a year ago, registering a growth of 2.3 per cent. The board have recommended a final dividend of Rs 7 per equity share or 70 per cent of face value of Rs 10 each for the financial year ended March 31, 2025, ICICI Lombard said in a regulatory filing. The solvency ratio was 2.69 times at March-end 2025 against 2.62 times on March 31, 2024, higher than the minimum regulatory requirement of 1.5 times.

Union Telecom Minister Jyotiraditya Scindia has asked state-owned BSNL to submit circle-level customer growth and business plan for the current fiscal, an official statement said on Tuesday. The minister met 27 Chief General Managers (CGM) and Senior Officials of BSNL and directed them to meet every month. "Minister Scindia has directed the team to meet every month and discuss best practices and challenges. He also asked the team to co-create solutions to the challenges of different regions. Minister Scindia has asked every circle to make a Customer growth plan and a Business Plan for FY 2025-26," the statement said. The minister lauded the BSNL team for making the PSU profitable after a gap of about 18 years. The company had reported a net profit of Rs 262 crore in the October-December 2024 quarter. He asked the entire team to continue this momentum and focus on customer acquisition and retention for long-term success. BSNL in the last 8-9 months has added around 55 lakh new customers. Scindia also asked CGMs to work towards capacity building of their juniors and infuse passion in them to get them on the same wavelength.