Hindi

LIC net profit fell by 18.03 percent in Q4

Avatar of Ch Sathvika
LIC net profit fell by 18.03 percent in Q4

For the fiscal year ending March 31, 2022, the board of directors has suggested a dividend of Rs.1.50 equity share with a face value of Rs.10 each.

The standalone net profit of Life Insurance Corporation of India, India’s largest insurer, fell 18.03 percent to Rs 2,371.55 crore for the quarter ended March 31, 2022, compared to Rs 2,893.48 crore the previous year.

The net premium income of LIC, which floated its shares earlier this month, increased 18.18 percent to Rs 143,745 crore in Q4 FY22, compared to Rs 121,626 crore the previous quarter.

For the fiscal year ending March 31, 2022, the board of directors has suggested a dividend of Rs 1.50 per equity share with a face value of Rs 10 each.

LIC shares index closed 1.89 percent higher on the BSE on Monday, at Rs 837.05. The company’s initial public offering (IPO) price was Rs 949 per share.

The company’s investment income increased to Rs 67,498 crore from Rs 67,435 crore in the previous quarter. Its solvency ratio increased to 1.85 from 1.76 a year ago, indicating that the company can satisfy its long-term debt obligations.

LIC’s net profit for the fiscal year 2021-22 increased to Rs 4,124.70 crore from Rs 2,974 crore the previous year.

As of Monday, LIC’s market capitalization was Rs 529,433 crore. Its 13-month persistency ratio, which measures the number of policies renewed, dropped from 73.24 percent to 69.24 percent.

As of Monday, LIC’s market capitalization was Rs 529,433 crore. Its 13-month persistency ratio, which measures the number of policies renewed, dropped from 73.24 percent to 69.24 percent.

On Wednesday, May 4, 2022, the much-anticipated initial public offering (IPO) of life insurance behemoth Life Insurance Corporation of India (LIC) gegan accepting subscriptions.

The LIC IPO, which is valued at over ₹21,000 crore, opened for subscription until Monday, May 9th, 2022, with a price band of ₹902-949 per shares.

The Life Insurance company(LIC), is the country’s oldest and largest life insurance company. On September 1, 1956, it was founded with an initial capital of Rs.5 crore by merging and nationalizing 245 private life insurance companies. LIC is the biggest life insurer in the world and the country’s largest asset manager, with assets totalling over ₹40 lakh crore.

It has a market share of 61.6 percent in terms of premiums of GWP, 61.4 percent in terms of NEw Business Premium, 71.8 percent in terms of number of individual policies, issued and 88.8 percent in terms of numbers of group policies as of December 31, 2021, with 1.33 million individual agents.

 It is owned and administered by the central government, which is authorized to sell 22.13 crore shares in the public market, representing 3.5 percent of its interest in LIC. The IPO is fully an offer-for-sale (OFS), with the government expecting to raise more than Rs. 21,000 crore through it.

As a result of the Russian invasion of Ukraine and continued selling by foreing portfolio investors (a net of Rs. 1,48,078 crore since the beginning of December 2021), the size of the IPO was reduced from Rs.65,000 crore to Rs.21,000 crore, regardless, the LIC IPO going to be the country’s largest public offering, surpassing the Rs. 18,300 crore raised by Patym in the previous year.

In the last month, the country’s largest insurance company launched its first public offering(IPO).

Total
0
Shares
Previous Post
Ways to make your podcast sound more professional

Ways to make your podcast sound more professional

Next Post
Singer KK dies at 53: Singers and actors are expressing condolences on social media.

Singer KK dies at 53: Singers and actors are expressing condolences on social media.

Related Posts