LIC Q4 Results: Net profit rises 2.5% to Rs 13,763 crore, net premium income grows 16%
LIC Q4 FY24 Results: PSU life insurer LICs net premium income, a key measure of revenue for insurance businesses, increased 15.6 per cent on a year-on-year basis to Rs 1,52,293.1 crore for the March quarter.
LIC Q4 FY24 Results: State-run Life Insurance Corporation (LIC) on Monday reported a standalone net profit of Rs 13,762.6 crore for the quarter ended March 31, an increase of 2.5 per cent compared with the corresponding period a year ago.
The life insurance behemoth's net premium income for the fourth and final quarter of FY24 stood at Rs 1,52,293.1 crore, up 15.6 per cent on a year-on-year basis, according to a regulatory filing.
LIC's income from first-year premium improved to Rs 13,810 crore for the quarter under review from Rs 12,811 crore a year ago.
Its quarterly income from renewal premiums expanded to Rs 77,368 crore from Rs 76,009 crore a year ago.
For the financial year 2023-24, LIC registered a net profit of Rs 40,676 crore as against a net profit of Rs 36,397 crore for the previous year.
The LIC board recommended a final dividend of Rs 6 per share for the financial year ended March 31. Read more on LIC dividend
LIC shared ended stronger by Rs 6, or 0.6 per cent, at Rs 1,035.8 apiece on BSE earlier in the day.
With inputs from agencies
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