LIC Q1 results : The country’s largest insurance company, Life Insurance Corporation of India (LIC), has released the result for the first quarter of the current financial year 2024-25. The company’s consolidated net profit increased by 9 per cent to Rs 10,544 crore in the June 2024 quarter. In the same period a year ago, the company had registered a profit of Rs 9,635 crore. On Thursday, LIC shares closed flat at Rs 1124 on BSE.
Income increased by 16%
LIC’s net premium income grew 16 per cent to Rs 1.14 lakh crore in the April to June 2024 quarter. It was Rs 98,755 crore in the same period a year ago. LIC’s solvency ratio stood at 1.99 per cent, which was 1.89 per cent in the same quarter a year ago. The company’s gross NPA quality (GNPA) stood at 1.95 per cent in the first quarter. Which was 2.48 per cent last year.
Work started in Bangladesh office
In another stock exchange filing, LIC said that operations in its Bangladesh office have been partially restored. The company also said that the situation in the country is yet to return to normal. LIC said in an exchange filing, ‘LIC of Bangladesh has partially resumed operations from August 8. The situation in Bangladesh is still not normal. Until the situation returns to normal, the impact of the situation cannot be ascertained.’
Market cap is Rs 7,12,004.99 crore
The share of Life Insurance Corporation of India (LIC) closed at Rs 1125.70 on BSE on Thursday with a marginal increase of 0.16 percent or Rs 1.80. The 52 week high of this share is Rs 1221.50. Whereas, the 52 week low is Rs 597.65. The market cap of the company is Rs 7,12,004.99 crore.
Latest Business News
