Shares of LIC on Thursday ended nearly 2 per cent higher after the corporate posted greater than five-fold soar in consolidated web revenue at Rs 13,191 crore for the fourth quarter ended March 2023.
The inventory ended with a achieve of 1.69 per cent at Rs 603.60 on the BSE. During the day, it rallied 3.72 per cent to Rs 615.65.
At NSE, it superior 1.62 per cent to settle at Rs 603.55. The firm’s market valuation climbed Rs 6,356.63 crore to Rs 3,81,776.86 crore.
In traded quantity phrases, 2.55 lakh shares of the corporate had been traded at BSE and over 51.87 lakh shares on NSE in the course of the day.
The insurer had earned a revenue of Rs 2,409 crore in the identical quarter a yr earlier.
However, complete earnings in the course of the March quarter declined to Rs 2,01,022 crore from Rs 2,15,487 crore in the identical interval a yr in the past, LIC stated in a regulatory submitting on Wednesday.
For complete monetary yr 2022-23, Life Insurance Corporation of India (LIC) registered a multi-fold rise in web revenue to Rs 35,997 crore from Rs 4,125 crore in 2021-22.
The surge in annual revenue in FY23 was helped by a soar within the second quarter bottomline to Rs 15,952 crore. It was because of a switch of Rs 15.
03 lakh crore to shareholders’ accounts on the finish of September.
Last yr, the federal government raised Rs 20,557 crore by diluting its 3.5 per cent stake in LIC by means of preliminary public providing (IPO), the nation’s largest ever.
Also read-Â LIC stories over 5-fold soar in consolidated web revenue in March quarter
