Highlights

  • Net premium income stood at Rs 1.44 lakh crore
  • LIC shares declined to Rs 810

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LIC shares decline as profit slumps 17%

LIC's net profit declined to Rs 2,409 crore, down 17 percent year-on-year.

LIC shares decline as profit slumps 17%

Shares of Life Insurance Corporation (LIC) of India slumped as much as 3 percent on Tuesday as the insurance giant's reported a 17 percent drop in the March quarter profit.

LIC's net profit declined to Rs 2,409 crore, down 17 percent year-on-year, in the quarter ended March 31, 2022. The insurer had earned a profit of Rs 2,917 crore in the same quarter a year ago.

Also read/watch | India's China crackdown: After Xiaomi, ZTE & Vivo under scanner

Net premium income stood at Rs 1.44 lakh crore, up 17.88 percent from Rs 1.22 lakh crore in the corresponding quarter year ago.

India's largest insurer also announced a dividend of Rs 1.50 per share, it said in a regulatory filing on Monday.

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