LIC has released the fourth quarter figures which have been tremendous. LIC has earned a profit of 466 per cent. Along with this, dividend has also been announced for the investors.
business
oi-Ankur Singh
Published: Thursday, May 25, 2023, 12:19 [IST]
Life Insurance Corporation of India ie LIC has released its figures for the fourth quarter of the financial year 2022-23. The company was listed on the stock market last year, but since then the company has given negative returns of 35 per cent within a year. After coming into the market, the company has suffered a loss of Rs 2 lakh crore.
But if we look at the fourth quarter figures of the company, bumper profits have been seen in it. According to the fourth quarter data, LIC’s profit has increased by 466 percent in the financial year 2022-23. The total profit of the company has reached Rs 13428 crore.
LIC’s total profit in the same quarter last year was Rs 2371 crore. The company has declared a dividend of Rs 3 per share to its shareholders after making profits. Although LIC’s premium income has declined by 8 percent and it has become Rs 1.31 lakh crore, which was earlier 1.43 lakh crore.
On the other hand, if we talk about the premium income of the first year, then it has decreased by 12 percent to reach 12811 crores. Last year it was Rs 14614 crore. LIC’s total net profit has increased by Rs 4125 crore to Rs 35997 crore as compared to the previous financial year.
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After the kind of results that have come out, LIC has announced to give dividend to its investors as well. LIC is going to pay a dividend of Rs 3 on the face value of Rs 10 after the end of the quarter ending March 31, 2023. Even on 25 August 2022, LIC had given a dividend of Rs 1.50 per share to the investors.
Talking about LIC’s share, it is currently trading at Rs.604. In the last one year, there has been a decline of about 35 percent in it. The stock was listed at around 900.
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english summary
LIC net profit rises 466 percent, announces dividend to its share holders.
