DelhiDesk Life Insurance Corporation (LIC) has reported bumper profits in the fourth quarter of the financial year 2022-23, with its profit increasing by almost five times compared to the same quarter a year ago. The company’s net profit for the entire financial year has also increased manifold. However, investors who bought LIC’s share at its listing last year are still facing a loss of about 35%, estimated to be around Rs 2 lakh crore. LIC has declared a dividend of Rs 3 per share on each of its Rs 10 shares. The company’s financial results were released after the stock market closed on Wednesday.
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Here is the news bullets sorted by DelhiBreakings.com team.
– LIC has made bumper profits in the fourth quarter of the financial year 2022-23.
– The company’s profit has increased by almost 5 times compared to the previous year.
– The initial investors of the company are still facing a loss of about Rs 2 lakh crore.
– LIC’s net profit for the entire financial year 2022-23 has increased manifold to Rs 35,997 crore.
– The face value of LIC share is Rs.10, and the company has declared a dividend of Rs 3 per share.
– LIC’s net premium income declined by 8 per cent to Rs 1.31 lakh crore in the March quarter.
– LIC’s first year premium income has increased by 12 percent to Rs 12811 crore.
– The company had issued a dividend last year at Rs 1.50 per share.
– LIC has declared a dividend of Rs 3 per share on each of its Rs 10 shares.
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