New Delhi: Shares of LIC fell over 3 per cent on Tuesday after the company’s consolidated net profit fell by 17 per cent for the fourth quarter ended March 2022. The stock declined 3.23 per cent to Rs 810 on BSE.
It fell 3.31 per cent to Rs 810 on the NSE.
Insurance giant LIC on Monday reported a 17 per cent decline in consolidated net profit at Rs 2,409 crore for the fourth quarter ended March 2022.
The insurance company had posted a profit of Rs 2,917 crore in the same quarter a year ago.
This is LIC’s first quarterly results so far after listing on the stock exchanges earlier this month.
The total income of the insurer rose to Rs 2,12,230.41 crore during the March quarter as against Rs 1,90,098 crore in the same period last fiscal, LIC said in a regulatory filing.
LIC’s income from premium for the first year increased to Rs 14,663.19 crore as against Rs 11,053.34 crore in the corresponding quarter of the previous fiscal.
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