Shares of the state-owned national insurer Life Insurance Corporation (NS:LIFI) declined 2.4% to Rs 817.9 apiece at 11:10 am, after falling 3.23% to Rs 810 apiece in early trade on Tuesday.
The insurer released its first quarterly earnings result after being listed on the Indian exchanges earlier this month.
In the March quarter, the life insurer’s consolidated net profit declined 17.4% YoY to Rs 2,409 crore and total revenue rose 11.6% YoY to Rs 2,11,471 crore. Its net premium income too climbed 17.88% YoY to Rs 1,44,158.84 crore in the period.
Some key metrics to analyze the performance of LIC in the period, the ‘13th-month persistency ratio’ stood at 69.24% in Q4 FY22, compared to 73.94% in the year-ago period, while its 25th-month ratio climbed to 68.23% compared to 62.73%.
LIC’s income from first-year premium surged 32.65% YoY to Rs 14,663.19 crore, through renewal premium, rose 5.37% and income from single premium surged 33.7% YoY to Rs 58,250.9 crore.
The insurer’s board of directors have announced a dividend of Rs 1.5/share for FY22.
