<p>Insurance behemoth LIC on Monday posted a 17 per cent decline in consolidated net profit to Rs 2,409 crore for the fourth quarter ended March 2022.</p>.<p>The insurer had earned a profit of Rs 2,917 crore in the same quarter a year ago.</p>.<p>This is the first-ever quarterly result of LIC after being listed on bourses earlier this month.</p>.<p>The total income of the insurer during the March quarter increased to Rs 2,12,230.41 crore, from Rs 1,90,098 crore in the same period of the previous fiscal, LIC said in a regulatory filing.</p>.<p>LIC's income from first-year premium rose to Rs 14,663.19 crore as against Rs 11,053.34 crore in the same quarter previous fiscal.</p>.<p>The income from renewal premium rose 5.37 per cent to Rs 71,472.74 crore, while from single premium increased by 33.70 per cent to Rs 58,250.91 crore during the quarter.</p>.<p>For the entire financial year 2021-22, LIC reported a 38 per cent rise in profit at Rs 4,124.70 crore, from Rs 2,974.13 crore in the previous financial year.</p>.<p>The board of LIC has recommended a dividend of Rs 1.50 per equity share with a face value of Rs 10 each for the year ended March 31, 2022.</p>.<p>Shares of the LIC closed at Rs 837.05, 1.89 per cent higher on the BSE.</p>.<p>Earlier this month, the government raised Rs 20,557 crore by diluting its 3.5 per cent stake in the LIC through the initial public offering (IPO), the country's biggest ever.</p>.<p>LIC shares were listed at a discount of 8.62 per cent at Rs 867.20 apiece on BSE over the issue price of Rs 949 a share.</p>.<p>The government sold over 22.13 crore shares or a 3.5 per cent stake in LIC through the IPO. The price band of the issue was Rs 902-949 a share. However, shares were allocated to investors on May 12 at the upper end of the price band.</p>
<p>Insurance behemoth LIC on Monday posted a 17 per cent decline in consolidated net profit to Rs 2,409 crore for the fourth quarter ended March 2022.</p>.<p>The insurer had earned a profit of Rs 2,917 crore in the same quarter a year ago.</p>.<p>This is the first-ever quarterly result of LIC after being listed on bourses earlier this month.</p>.<p>The total income of the insurer during the March quarter increased to Rs 2,12,230.41 crore, from Rs 1,90,098 crore in the same period of the previous fiscal, LIC said in a regulatory filing.</p>.<p>LIC's income from first-year premium rose to Rs 14,663.19 crore as against Rs 11,053.34 crore in the same quarter previous fiscal.</p>.<p>The income from renewal premium rose 5.37 per cent to Rs 71,472.74 crore, while from single premium increased by 33.70 per cent to Rs 58,250.91 crore during the quarter.</p>.<p>For the entire financial year 2021-22, LIC reported a 38 per cent rise in profit at Rs 4,124.70 crore, from Rs 2,974.13 crore in the previous financial year.</p>.<p>The board of LIC has recommended a dividend of Rs 1.50 per equity share with a face value of Rs 10 each for the year ended March 31, 2022.</p>.<p>Shares of the LIC closed at Rs 837.05, 1.89 per cent higher on the BSE.</p>.<p>Earlier this month, the government raised Rs 20,557 crore by diluting its 3.5 per cent stake in the LIC through the initial public offering (IPO), the country's biggest ever.</p>.<p>LIC shares were listed at a discount of 8.62 per cent at Rs 867.20 apiece on BSE over the issue price of Rs 949 a share.</p>.<p>The government sold over 22.13 crore shares or a 3.5 per cent stake in LIC through the IPO. The price band of the issue was Rs 902-949 a share. However, shares were allocated to investors on May 12 at the upper end of the price band.</p>