LIC shares fall more than 3% to break record after Q4 net slip 18%

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

The stock fell 3.05 per cent to settle at Rs 811.50 on the BSE. During the day, it jumped 3.23 percent to Rs 810.

At the NSE, it fell by 3.21 percent to end at Rs 810.85.

In terms of volume, 2.22 lakh shares were traded on the BSE during the day and more than 43.73 lakh shares on the NSE.

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

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

This is the first quarterly result ever from LIC after they were announced at stock exchanges earlier this month.

The insurer’s total income in 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 year, LIC said in a regulatory submission.

The income of LIC from premium for the first year went to Rs 14,663.19 crore against Rs 11,053.34 crore in the same fourth previous fiscal year.

(Only the headline and image of this report may have been re-edited by Business Standard staff; the rest of the content will be automatically generated from a syndicated feed.)

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