LIC Q1 profit rises fourteen-fold

Life Insurance Corporation of India on Thursday reported a near fourteen-fold surge in first-quarter profit.

LIC Q1 profit rises fourteen-fold
The company posted a profit after tax of 95.44 billion Indian rupees ($1.16 billion) for the quarter ended June 30. Image Source: Reuters

Life Insurance Corporation of India on Thursday reported a near fourteen-fold surge in first-quarter profit, as it moved money to a shareholders’ fund to shore up its bottom-line.

The company posted a profit after tax of 95.44 billion Indian rupees ($1.16 billion) for the quarter ended June 30, compared to 6.83 billion rupees a year ago.

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Written By: Reuters
Updated: Fri, Aug 11, 2023
09:04 AM IST
New Delhi, Reuters

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