Income of LIC rose to Rs2,50,923 crore from Rs2,00,185 crore in the same period of the previous fiscal
New Delhi: Insurance behemoth LIC on Monday posted a marginal 2 per cent increase in net profit at Rs13,763 crore in the fourth quarter ended March 2024.
The insurer had earned a profit of Rs13,428 crore in the corresponding quarter a year earlier.
The total income of the insurer during the reporting quarter rose to Rs2,50,923 crore from Rs2,00,185 crore in the same period of the previous fiscal, LIC said in a regulatory filing.
LIC’s income from first-year premium also improved to Rs13,810 crore in the latest January-March quarter against Rs 12,811 crore in the same period of preceding fiscal.
The income from renewal premiums in the reporting period rose to Rs77,368 crore compared to Rs76,009 crore a year ago.
During the entire financial year ended March 2024, the insurer earned a profit of Rs 40,676 crore as compared to Rs 36,397 crore in the previous fiscal.
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