LIC shares decline over 3% after lower earnings in Q4 results

At the NSE, it tanked 3.31% to Rs 810

FPJ Web DeskUpdated: Tuesday, May 31, 2022, 10:56 AM IST
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Insurance behemoth LIC on Monday posted a 17 percent decline in consolidated net profit to Rs 2,409 crore for the fourth quarter ended March 2022. / Representative image | File photo

Shares of LIC on Tuesday dipped over 3 percent after the company posted a 17 percent decline in consolidated net profit for the fourth quarter ended March 2022.

At the NSE, it tanked 3.31 percent to Rs 810.

Insurance behemoth LIC on Monday posted a 17 percent decline in consolidated net profit to Rs 2,409 crore for the fourth quarter ended March 2022.

The insurer had earned a profit of Rs 2,917 crore in the same quarter a year ago.

This is the first-ever quarterly result of LIC after being listed on bourses earlier this month.

The total income of the insurer during the March quarter increased to Rs 2,12,230.41 crore, from Rs 1,90,098 crore in the same period of the previous fiscal, LIC said in a regulatory filing.

LIC's income from first-year premium rose to Rs 14,663.19 crore against Rs 11,053.34 crore in the same quarter previous fiscal.

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