LIC, the country’s largest insurance company, has made huge profits. On Wednesday, the results of the March quarter have been released by the company. The special thing is that during these 90 days, the company has made a profit of about 17 thousand rupees in every second. Compared to the same period of the March quarter last year, this time the profit of the company has increased by about 5 times. At the same time, there has been a decline in the company’s revenue. Let us also tell you what kind of figures have been seen in the quarterly results of the company.
Profit increased, revenue decreased
The insurance company has released its quarterly figures for the March quarter on Wednesday. In the fourth quarter of the financial year 2022-23, the company’s net profit increased by more than five times to reach Rs 13,191 crore. In the same period of the last financial year, the net profit of the company was Rs 2,409 crore. If we talk about the income front, then the company’s revenue has come down to Rs 2,01,022 crore in the fourth quarter, compared to Rs 2,15,487 crore in the same period of the last financial year.
Nearly 9 times increase in profit for the whole year
If we talk about the entire financial year, then LIC’s financial year 2022-23 has increased almost 9 times to Rs 35,997 crore as compared to the same period last year. While the company’s profit in the last financial year was only Rs 4,125 crore. On the other hand, there has been a decline in premium earnings. According to statistics, in March 2022, the company’s premium earnings were seen at Rs 14,663 crore, which has come down to Rs 12,852 crore in March 2023.
Company stock up
If we talk about the shares of the company, today there has been a slight rise in it. According to the data, today the company’s shares closed at Rs 593.55 with a slight gain of 0.61 per cent i.e. Rs 3.60. By the way, the company’s stock had reached Rs 604 during the trading session. By the way, in the three trading days of this week, LIC shares have seen an increase of 5 percent.