LIC shares fall 3% after 17% decline in March-ended 4th quartertext_fields
New Delhi: After the LIC (Life Insurance Corporation of India) posted a 17 per cent decline for the fourth quarter, which ended in March 2022, the insurance company's shares fell more than 3 per cent on Tuesday, PTI reported.
On the BSE (Bombay Stock Exchange), LIC's shares declined 3.23 per cent to reach Rs 810, while at the NSE (National Stock Exchange of India Ltd.) it was a 3.31 per cent fall to reach Rs 810.
On Monday, LIC had posted a decline of 17 per cent in consolidated net profit to Rs 2,409 crore. But, the company had earned a profit of Rs 2,917 crore in the same quarter in the previous year.
This is the first-ever quarterly result of LIC after being listed on bourses earlier this month.
However, the total income LIC gathered during the quarter had increased from Rs 1,90,098 crore (same period last fiscal) to Rs 2,12,230.41 crore, according to LIC's regulatory filing.
Also, the company's income from the first-year premium reached Rs 14,663.19 crore from Rs 11,053.34 crore in the same quarter previous fiscal.