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Shares of the LIC on Tuesday declined over 3 per cent after it had posted a 17 per cent drop in the consolidated net profit for the fourth quarter ended in March 2022.
The stock declined 3.05 per cent to settle at ₹811.50 on the BSE. During the day, it tanked 3.23 per cent to ₹810.
At the NSE, it fell by 3.21 per cent to end at ₹810.85.
In volume terms, 2.22 lakh shares were traded at the BSE and over 43.73 lakh shares at the NSE during the day.
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LIC Q4 net profit declines 18 per cent to ₹2,371 crore
Board recommends dividend of ₹1.5 per equity share for FY22Insurance behemoth LIC on Monday posted a 17 per cent decline in consolidated net profit to ₹2,409 crore for the fourth quarter ended March 2022.
The insurer had earned a profit of ₹2,917 crore in the same quarter a year ago.
This is the first-ever quarterly result of LIC after being listed on bourses earlier this month.
The total income of the insurer during the March quarter increased to ₹2,12,230.41 crore, from ₹1,90,098 crore in the same period of the previous fiscal, LIC said in a regulatory filing.
LIC's income from first-year premium rose to ₹14,663.19 crore against ₹11,053.34 crore in the same quarter previous fiscal.
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