LIC Q2 Results: Net premium revenue is Rs 1.07 lakh crore, but net profit drops by 50% to Rs 7925 cr

 LIC Q2 Results: Net premium revenue is Rs 1.07 lakh crore, but net profit drops by 50% to Rs 7925 cr

From Rs 1.32 lakh crore in the same time last year to Rs 1.07 lakh crore in the current quarter, LIC's net premium revenue decreased by 19%.

From Rs 84,103 crore to Rs 93,942 crore last year, income from investments increased.

On November 10, the Indian Life Insurance Corporation (LIC) revealed that its net profit for the quarter that ended on September 30, 2023, had decreased by 50% to Rs 7925 crore. The insurance giant declared a net profit of Rs 15,952 crore for the same time last year.

From Rs 1.32 lakh crore in the same time last year to Rs 1.07 lakh crore in the current quarter, LIC's net premium revenue decreased by 19%.

Gross non-performing assets (GNPAs) for the insurance were 2.43 percent, compared to 5.60 percent the year before. Its net NPA did not change from the same time last year.

From Rs 84,103 crore to Rs 93,942 crore last year, income from investments increased.

With a 0.68 percent decrease from the previous close, the stock closed the day on the BSE at Rs 610.55.