LIC Q4 profit drops 17% to ₹2,409 cr.
The Hindu
Declares ₹1.50 dividend per share
Insurance behemoth LIC on Monday posted a 17% decline in consolidated net profit to ₹2,409 crore for the fourth quarter ended March 2022.
The insurer had earned a profit of ₹2,917 crore in the same quarter a year earlier.
This is the first-ever quarterly result of LIC after being listed on bourses earlier this month.
The total income of the insurer during the March quarter increased to ₹2,12,230.41 crore, from ₹1,90,098 crore in the same period of the previous fiscal, LIC said in a regulatory filing.
LIC's income from first-year premium rose to ₹14,663.19 crore as against ₹11,053.34 crore in the same quarter previous fiscal.
The income from renewal premium rose 5.37% to ₹71,472.74 crore, while from single premium increased by 33.70% to ₹58,250.91 crore during the quarter.
For the entire financial year 2021-22, LIC reported a 38% rise in profit at ₹4,124.70 crore, from ₹2,974.13 crore in the previous financial year.
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