Life Insurance coverage Company of India reported an 18 per cent drop in its standalone internet revenue to ₹2,371.55 crore in Q4FY22 from ₹2,893.44 crore in the identical interval final yr
The premium earnings noticed a wholesome progress however working bills and internet advantages paid additionally elevated.
On a consolidated foundation, its internet revenue was 17.4 per cent decrease at ₹2,409.29 crore for the fourth quarter of final fiscal in comparison with ₹2,917.33 crore in Q4FY21.
For FY22, its internet revenue shot up by 39.4 per cent to ₹4,043.12 crore from ₹2,900.56 crore in 2020-21.
The board of the newly listed life insurer has really useful a maiden dividend of ₹ 1.50 per fairness share for the fiscal 2021-22, topic to the shareholders’ approval , LIC mentioned in a inventory trade submitting on Monday.
That is the primary quarterly outcomes since its ₹21,000 crore preliminary public providing earlier this month and the traders had been trying ahead to the next dividend pay out.
For the quarter ended March 31, 2022, the LIC reported an 18.2 per cent improve in its internet premium earnings to ₹1,43,745.91 crore from ₹1,21,626.05 crore in the identical interval within the corresponding quarter.
First yr premium elevated 33.4 per cent year-on-year to ₹14,614.25 crore within the fourth quarter of 2021-22 whereas renewal premium elevated 5.5 per cent to ₹71,157.89 crore in the identical interval. Single premium grew by 34.5 per cent to ₹58,198.16 crore within the January to March 2022 quarter.
Internet advantages paid was 19 per cent greater year-on-year at ₹1,21,948.98 crore within the fourth quarter of 2021-22.
The solvency ratio was at 1.85 for the quarter ended March 31, 2021 from 1.76 a yr in the past.
Its 13 th month persistency, which is a key parameter to gauge renewal of insurance policies, fell to 69.24 per cent on the finish of the fourth quarter of final fiscal versus 73.94 per cent in the identical interval within the earlier fiscal.
LIC scrip closed 1.89 per cent greater at ₹837.05 a bit on BSE on Monday. Its scrip had listed on Could 17 at an 8 per cent low cost to its situation worth of ₹949 apiece.
Could 30, 2022