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    Vikshita Vitthal Gujaran in News

    12-Nov-2022 10:11 AM


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    LIC Q2 results: PAT rises multi-fold to ₹ 15,952 cr, net premium income up 27%

    State-run insurance giant Life Insurance Corporation (LIC) on Friday said its September quarter consolidated net profit after tax (PAT) surged multi-fold to ₹15,952 crore from ₹1,434 crore in the corresponding quarter of the last fiscal year.
    The insurer recognised a gain due to changes in its accounting policy.
    In the April to June quarter, the insurance giant had reported a net profit of ₹682.9 crore.
    The first-year premium, an indication of business growth, was at ₹9124.7 crore, up 11% for the quarter compared with ₹8198.30 crore a year ago.
    The renewal premium rose 2% to ₹56,156 crore while single premium soared 62% to ₹66,901 crore.
    The gross NPA ratio was down to 5.60% at the end of Q2 from 5.84% in Q1, and 6.57% a year ago.

    Source - Mint

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