LIC Q3 Results- The total income of LIC increased to Rs 2,12,447 crore in the third quarter of the current financial year, which was Rs 1,96,891 crore in the same quarter of the last financial year.
LIC Q3 Results: The country’s largest insurance company, Life Insurance Corporation of India (LIC) has released the results of the third quarter of the current financial year. The company’s net profit has increased by 49 percent on an annual basis to Rs 9,441 crore in the October-December quarter. The company’s profit in the same quarter a year ago was Rs 6,334 crore. LIC has also announced an interim dividend of Rs 4 per share. Market experts were already expecting good results from LIC in the third quarter and that is why LIC shares registered a great rise today.
LIC said in an exchange filing that net premium income increased by 4.67 percent to Rs 1.17 lakh crore in the December quarter. In the year-ago period it was Rs 1.11 lakh crore. Gross Non-Performing Assets (GNPA) of LIC stood at 2.15 percent as against 5.02 percent last year.
LIC’s asset under management (AUM) increased by 11.98 percent on an annual basis to Rs 49.66 lakh crore by December 2023. On December 31, 2022, it was Rs 44.34 lakh crore. The total income of LIC increased to Rs 2,12,447 crore in the quarter under review, which was Rs 1,96,891 crore in the same quarter of the last financial year.
There was a surge in new business.
Total Annual Premium Equivalent (APE) increased from Rs 12,370 crore last year to Rs 13,163 crore. APE is a metric used to measure the sales growth of a new business. The value of the company’s new business increased to Rs 2634 crore as compared to Rs 1801 crore.
Strong rise in shares: There
is a strong rise in LIC shares on Thursday. Today this share touched its all time high level of Rs 1145 in intraday. A tremendous rise in the shares of LIC started from November last year and is continuing till now. At the end of trading today, LIC shares closed at Rs 1,112 on NSE with a rise of 6.47 percent.
LIC was listed in the stock market in May 2022. On May 17, 2022, LIC shares were listed at ₹875.25 compared to the IPO price of ₹949. This stock declined after listing and once it went up to Rs 530.