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ICICI Lombard Q3 Results: On a sequential basis, the net profit grew by 4.4% to Rs 694 crore in Q3FY25, while revenue rose 0.55% from Rs 5,004 crore in Q2FY25. Gross direct premium income (GDPI) stood at Rs 6,214 crore, a 0.3% decline compared to Rs 6,230 crore in Q3FY24, contrasting with the industrys growth of 9.5% during the same period.
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The 100 limit on contactless cards could also be scrapped, as regulators respond to the prime minister's plea.
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Driven by an urgent need to reduce costs and the imminent risk of closure amid financial challenges, the Reader announced the immediate layoffs of six non-union employees, organizational restructuring and the resignation of CEO Solomon Lieberman in a news release this week.
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