LIC shares gain after state-run life insurer's profit grows 2.5% in Q4

LIC share price today, Life Insurance Corporation of India share price today NSE, LIC Q4 FY24 results: Life Insurance Corporation of India (LIC) shares on Tuesday, May 28 hogged the limelight, a day after the state-run life insurance major reported its March quarter results. LIC shares gained as much as 2.5 per cent to the day's high of Rs 1,062.45 on NSE in morning deals. The counter closed at Rs 1,014, down 2.13 per cent on NSE.

LIC Q4 FY24 results

LIC 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.

LIC dividend 2024: Rs 6/share payout 

LIC has recommended a final dividend of Rs 6 per share for the financial year ended March 31. 

LIC dividend 2024 record date

The company has fixed July 19, 2024, as the record date to ascertain the eligibility of shareholders for this corporate action. 

(With PTI inputs)

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