LIC Q4 results, LIC dividend; LICI share price NSE, BSE: Life Insurance Corporation (LICI) shares surged in early morning deals on the bourses, a day after the state-run insurance behemoth posted a more than five-fold jump in consolidated net profit for the quarter ended March 2023.
After market hours on Wednesday, LIC posted a net profit of Rs 13,191 crore for the three-month period. Its total income, however, came in at Rs 2,01,022 crore as against Rs 2,15,487 crore for the corresponding period a year ago, according to a regulatory filing.
LIC’s income from first-year premium also came down, to Rs 12,852 crore from Rs 14,663 crore a year ago.
Income from renewal premiums rose to Rs 76,328 crore for the March quarter, from Rs 71,473 crore a year ago, and that from single premiums decreased to Rs 43,252 crore from Rs 58,251 crore, according to LIC.
LIC’s board recommended a final dividend of Rs 3 per share for the financial year ended March 31, 2023, subject to shareholders’ approval.
LIC shares: Past performance
As of May 25, LIC shares have lost 28 per cent of their value in one yea, sharply outperforming a 14 per cent rise in the headline Nifty index.
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