LIC Q1 results: Net profit surges fourteen-fold to Rs 9,544 cr
Admin
Aug 12, 2023 01:45
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Life Insurance Corporation of India’s (LIC’s) net profit for the quarter ended June (Q1FY24) more than doubled year-on-year (Y-o-Y) to Rs 9,543.71 crore on the back of sizeable growth in income from investments.
The profit after tax for Q1FY24 of Rs 9,543.71 crore included Rs 7,491.53 crore pertaining to the accretion on the available solvency margin, transferred from non-par fund to shareholders' account. The comparable profit figure was Rs 4,831.65 crore for Q1FY23, the state-owned life insurer said in a statement.
