LIC Q3 Results, Net profit stood at Rs 7,108.70 crore amid 12.2 percent growth YoY
The net income from investments during the third quarter rose by 12% year-on-year to Rs 95,266.8 crore from Rs 84,869 crore in Q3FY23 while the management expenses increased by 32 percent to Rs 18,193.8 crore.
The Public sector Insurance giant LIC released its quarterly results on Thursday, witnessing a surge of 49% percent growth in net profit standing at Rs 9,444.4 crore for the third quarter.
The net premium income grew by 4.6% to Rs 1.17 trillion, compared to Rs 1.11 trillion in Q3 FY24. The net income from investments during the third quarter rose by 12% year-on-year to Rs 95,266.8 crore from Rs 84,869 crore in Q3FY23 while the management expenses increased by 32 percent to Rs 18,193.8 crore.
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A decrease in other income is reported, which fell to Rs 163.83 crore from Rs 209.75 crore in the last fiscal year. The company has managed to reduce its gross NPAs to 2.15% in Q3FY24.
The shares of the company have jumped to a record high of Rs 1145 with almost all all-time high and the market capitalization has surpassed Rs 7 trillion for the very first time. Meanwhile, the company has delivered a healthy return of 26.3% to its investors since ever its listing on 17 May 2022.
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The solvency ratio improved to 1.93 as against 1.85 in the previous fiscal year.
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