LIC Q2 Result:Country’s largest insurance company LIC has given excellent results for the quarter July-September. The company has registered a total profit of Rs 15,952 crore in the second quarter. Last year, the profit of the company for the same quarter was Rs. 1,433 crore. LIC’s profit for the April-June quarter of the current financial year would have been Rs.682.9 crore.
The company has earned Rs 9,124.7 crore from first-year premiums. It was Rs 8,198.30 crore in the corresponding period last year. It is considered to be an important factor for the business growth of insurance companies. Net premium income of the company was Rs 1.04 lakh crore in the second quarter of last year, which has now increased to Rs 1.32 lakh crore. This has increased by 27%. LIC’s investment income increased by 10% to Rs. 84,104 crores.
LIC Q2 Result – Reduction in gross NPA
The company’s renewal premium rose 2% to Rs 56,156 crore and single premium rose 62% to Rs 66,901 crore. The gross NPA of LIC South on the other hand stood at Rs 26,11 crore. This was up from Rs 26,619 crore in the previous sequence and Rs 28,929 crore in last year’s goods. All are down 5.60% on quarter-on-quarter basis and 6.57% on year-on-year basis.
LIC Q2 Result – No dividend has been declared
In the current business year, ahead of LIC’s second quarter results, there were speculations that the state-run insurer may issue dividends or bonuses. On October 31, following such reports, LIC’s stock rose 2.5%.
LIC Q2 Result – 30% Drop from Listing
LIC stock closed at Rs 628 per share on BSE after the day’s trade on Friday. Shares of LIC rose 1.17% yesterday. There has been an increase in this stock since last few days. However, the list price is still a long way from the list price. LIC got listed in the month of May this year. Since the listing, the stock has fallen about 30%.
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