The insurance company of the government, Life Insurance Corporation of India (NSE: LICI) has raked in enormous profits. LIC has made a net profit of Rs 10461 crore in the first quarter of the current financial year.
LIC’s profits have increased by 10% compared to the same time the year before. The company’s insurance had net profits of 9544 crore in the year’s initial quarter.
LIC share traded at 1125.70 on the Bombay Stock Exchange(BSE) on Thursday.
The Total Income Of The Insurance Company Stood At Rs 210910 Crore
LIC’s total income stood at Rs 2,10,910 crore in the June 2024 quarter. The total LIC’s earnings during the same timeframe last year was 1,88749 crore.
During the April-June 2024 quarter, the first-year premium of insurance company LIC has increased to Rs 7470 crore, which was Rs 6811 crore in the same period a year ago.
The insurance company earned Rs 56429 crore from renewal premiums in the June 2024 quarter, which was Rs 53,638 crore in the same period a year ago.
In the first quarter of the present fiscal year, LIC’s net profit from investments rose to 96183 crore. This is up from more than Rs 90,309 crore for the same period one year earlier.
LIC Shares Jumped 75% In A Year
Life Insurance Corporation of India (LIC) share has jumped 75 percent in the last year. The company’s share was at Rs 643.70 on August 8 last year.
The insurance company’s share reached Rs 1125.70 on August 8, 2024. In the last 9 months, the share of insurance company LIC has risen by 85 percent.
So far this year, LIC share has jumped more than 31 percent. The company’s share was at Rs 858.35 at the beginning of this year on January 1, 2024, which has now come down to Rs 1125.70.
The 52-week peak of share in this insurance firm is 1221.50. In the same way, the 52-week low value of the shares of the company is 597.65.
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