ICICI Lombard surges over 10% in two days post Q3 results

The stock hit highest level since its listing on September 2017 to Rs 872, up 7%, extending its previous day's 3.8% gain on BSE

ICICI Lombard General Insurance Company surged 7% to Rs 872, extending its previous day’s 3.8% gain on BSE, after the company reported 42.8% jump in profit before tax (PBT) at Rs 3.22 billion in December 2017 quarter (Q3FY18). A subsidiary of ICICI Bank had PBT of Rs 2.25 billion in the same quarter last fiscal.

The net profit of the company during the quarter under review grew 5.20% at Rs 2.3 billion against Rs 2 billion in the corresponding quarter of the previous fiscal.

“The results for third quarter and nine-month period ended December 2016 were impacted due