LIC’s net profit up five times to Rs 13,191 crore in March quarter
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The company had earned a net profit of Rs 2,409 crore in the same quarter of the previous financial year. Life Insurance Corporation of India said that its total income declined to Rs 2,01,022 crore in the March quarter from Rs 2,15,487 crore in the same quarter of the previous fiscal.
The integrated net profit of public sector insurance company LIC increased more than five times to Rs 13,191 crore in the fourth quarter of the last financial year 2022-23. The company gave this information to the stock market on Wednesday. The company had earned a net profit of Rs 2,409 crore in the same quarter of the previous financial year. Life Insurance Corporation of India said that its total income declined to Rs 2,01,022 crore in the March quarter from Rs 2,15,487 crore in the same quarter of the previous fiscal.
LIC’s first year premium income also declined from Rs 14,663 crore in March 2022 to Rs 12,852 crore in March 2023. LIC’s net profit for the full financial year 2022-23 has increased manifold to Rs 35,997 crore, which was just Rs 4,125 crore in 2021-22. The board of directors of LIC has recommended a final dividend of Rs 3 per share of face value of Rs 10 for 2022-23. LIC’s scrip closed at Rs 593.55 on the BSE with a gain of 0.61 per cent.
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