LIC Q4 Results LIVE: Net profit rises marginally to ₹13,762 cr, ₹6 final dividend announced

• The Profit after Tax (PAT) for the year ended March 31st 2024 was ₹40,676 crore as compared to ₹36,397 crore for the year ended March 31st 2023.

• Total Assets Under Management (AUM) increased to ₹51.2 lakh crore as on March 31st 2024 as compared to ₹43.9 lakh crore on March 31st, 2023 registering an increase of 16.48% year on year.

• In terms of market share measured by first year premium income, LIC continues to be the market leader by market share in the Indian life insurance business with overall market share of 58.87%.

• The solvency ratio, which measures how much capital a company has compared to the risk it has taken, stood at 1.98 for FY24. the ratio was 1.87 in FY23.

• The board of directors recommended a final dividend of ₹6 per share for the financial year 2023-24 subject to approval of shareholders.

Shares of LIC settled at ₹1,037.6 apiece on the NSE at the closing bell, up 0.77% as against the last closing price.

LIC shares were trading at ₹1,042.75 apiece on the NSE at 2:29 pm, up 1.3% as against the previous day's close. The company is expected to declare its results shortly.

The company’s stock has gained by around 18%, as compared to the listing price of ₹867.2 in May 2022. After getting listed, the state-run insurer’s shares were hammered on the exchanges and had dipped below ₹600.

The stock has been on the upward trajectory since 2023. In the past one year, the shares have gained by 69.7%, whereas, the year-to-date climb has been of 19.5%.

LIC’s consolidated net premium income had dropped by 8% to ₹1.32 lakh crore in Q4FY23, as compared to ₹1.44 lakh crore in Q4FY22.

Shares of LIC, which were down in the initial period of the trading session, have recovered. The stock was up 1.2% at ₹1,042.25 apiece on the NSE at 11:28 am.

• In March 2023 quarter, LIC”s consolidated net profit had grown nearly five-fold to ₹13,190.79 crore.
• The net profit clocked was 447% higher as compared to ₹2,409.39 crore in the year-ago period.

Shares of LIC were down 0.41% at Rs 1,025.5 apiece on the NSE at 10:00 am. The stock had opened in the green, but has inched downwards as the trading progressed in the first hour.

The insurance company's shares opened in the green ahead of the Q4 results. The scrip was valued at ₹1,035.45 apiece on the NSE at opening bell, up by nearly ₹6 as against the last closing price.

Life Insurance Corporation of India (LIC), the state-run insurance giant, will declare its results for the quarter ended March 2024 on Monday, May 27. Along with the Q4 results, the company’s board of directors will also consider and approve the release of the earnings report for the entire fiscal year ended March 31, 2024. Stay tuned here for the latest updates.

The quarterly performance of LIC will remain keenly tracked as the company continues to dominate India’s insurance sector. As of 2023 end, it held a market share of 58.5%.

The Government of India-owned entity was listed on the exchanges in May 2022, following an initial public offering (IPO) through which it raised ₹20,557 crore.

How LIC performed in the year-ago quarter

In Q4FY23, LIC”s consolidated net profit had grown nearly five-fold to ₹13,190.79 crore, as compared to ₹2,409.39 crore in the year-ago period.

However, the company’s consolidated net premium income had dropped 8% year-on-year to ₹1.32 lakh crore, from ₹1.44 lakh crore in Q4FY22.

How LIC shares have performed

On May 24, LIC shares settled 0.14% lower at ₹1,029.75 on the National Stock Exchange (NSE).

The company’s stock has gained by around 18%, as compared to the listing price of ₹867.2 in May 2022. After getting listed, the state-run insurer’s shares were hammered on the exchanges and had dipped below ₹600.

However, the stock has been on the upward trajectory since 2023. In the past one year, the shares have gained by 69.7%, whereas, the year-to-date climb has been of 19.5%.