LIC Q4 Result: LIC’s Annual Net Profit Decreased By 17%

LIC Q4 Result: LIC’s annual net profit decreased by 17%, and the company will give a dividend of Rs 1.50/share to the investors.

LIC’s net premium income stood at Rs 1,44,158.84 crore, up 17.88 percent from Rs 1,22,290.64 crore in the corresponding quarter a year ago.

Let us inform you that this is the first income statement issued by the insurance giant after listing in the stock market, in which its profits have been badly affected.

On the other hand, the board of the company has decided to give dividends of Rs 1.50 per share to its investors.

In fact, India’s largest insurer LIC on Monday reported a net profit of Rs 2,409.39 crore for the quarter ended March 2022, down 17.41 percent from Rs 2,917.33 crore recorded in the same period.

The government-run insurer posted a net of Rs 4,043.12 crore for the financial year 2021-22, a rise of 39.4 percent as compared to Rs 2,900.56 crore recorded in 2020-21.

LIC’s total revenue grew 11.64 percent year-on-year to Rs 2,11,471 crore in the fourth quarter of the financial year ended March 2022, as against Rs 1,89,176 crore in the corresponding quarter of the previous year.

LIC Q4 Result: The LIC Board in its meeting held on Monday approved the financial results for the quarter and year ended March 31, 2022.

LIC has decided to pay a dividend of Rs 1.50 per share to its investors. The company’s results have come after the close of the market. LIC shares closed at Rs 836.50 with a gain of 1.81% on BSE today.

Let us tell you that since the issue price of IPO, the price of LIC shares has fallen by 15%. The company’s shares were listed on May 17.

LIC’s IPO was the biggest issue in the country to date. The company’s issue was subscribed only 6 times. Retail investors and institutional buyers had bid heavily on LIC’s issue.

While foreign investors did not show much interest in this IPO. The government had sold a 3.5% stake i.e. 22.13 crore shares in LIC through the issue.