During the entire financial year ended March 2024, the insurer made a profit of Rs 40,676 crore, compared to Rs 36,397 crore in the previous financial year.
Insurance giant LIC on Monday posted a marginal 2 per cent rise in net profit to Rs 13,763 crore in the fourth quarter ended March 2024.
The insurer had made a profit of Rs 13,428 crore in the corresponding quarter a year earlier.
The insurer’s total income during the reporting quarter rose to Rs 250,923 crore, compared to Rs 200,185 crore in the same period of the previous fiscal, LIC said in a regulatory filing.
LIC’s income from first-year premiums also improved to Rs 13,810 crore in the last January-March quarter, against Rs 12,811 crore in the same period of the previous fiscal.
Renewal premium income rose to Rs 77,368 crore in the period under review, compared to Rs 76,009 crore a year ago.
During the entire financial year ended March 2024, the insurer made a profit of Rs 40,676 crore, compared to Rs 36,397 crore in the previous financial year.
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First print: May 27, 2024 | 7:35 PM IST