A view of LIC constructing at Connaught Place, in New Delhi.
| Photo Credit: Sushil Kumar Verma
Shares of LIC on May 25 climbed nearly 4% after the corporate posted greater than five-fold bounce in consolidated web revenue at ₹13,191 crore for the fourth quarter ended March 2023.
The inventory gained 3.72% to ₹615.65 on the BSE.
Also Read: LIC Q4 web revenue surges over 5-fold to ₹13,191 cr
At the NSE, it jumped 3.63% to ₹615.50.
The insurer had earned a revenue of ₹2,409 crore in the identical quarter a 12 months earlier.
However, complete revenue in the course of the March quarter declined to ₹2,01,022 crore from ₹2,15,487 crore in the identical interval a 12 months in the past, LIC stated in a regulatory submitting on May 24.
Also Read: Rupee falls 13 paise to 82.80 towards U.S. greenback
For total monetary 12 months 2022-23, Life Insurance Corporation of India (LIC) registered a multi-fold rise in web revenue to ₹35,997 crore from ₹4,125 crore in 2021-22.
The surge in annual revenue in FY23 was helped by a bounce within the second quarter bottomline to ₹15,952 crore. It was as a consequence of a switch of ₹15.03 lakh crore to shareholders’ accounts on the finish of September.
Last 12 months, the federal government raised ₹20,557 crore by diluting its 3.5% stake in LIC via preliminary public providing (IPO), the nation’s greatest ever.
