LIC shares surge after PSU insurance giant reports 5x jump in Q4 PAT, announces dividend

LIC Q4 results, LIC dividend; LICI share price NSE, BSE: Life Insurance Corporation (LICI) shares ended in green on the bourses, a day after the state-run insurance behemoth posted a more than five-fold jump in consolidated net profit for the quarter ended March 2023.

LIC dividend: LIC’s board recommended a final dividend of Rs 3 per share for the financial year ended March 31, 2023. Image: Reuters

LIC Q4 results, LIC dividend; LICI share price NSE, BSE: Life Insurance Corporation (LICI) shares ended in green on the bourses, a day after the state-run insurance behemoth posted a more than five-fold jump in consolidated net profit for the quarter ended March 2023. LIC shares finished up 1.62 per cent or Rs 9.65 at Rs 603.55 apiece on NSE.

After market hours on Wednesday, LIC posted a net profit of Rs 13,191 crore for the three-month period. Its total income, however, came in at Rs 2,01,022 crore as against Rs 2,15,487 crore for the corresponding period a year ago, according to a regulatory filing.

LIC's income from first-year premium also came down, to Rs 12,852 crore from Rs 14,663 crore a year ago.

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Income from renewal premiums rose to Rs 76,328 crore for the March quarter, from Rs 71,473 crore a year ago, and that from single premiums decreased to Rs 43,252 crore from Rs 58,251 crore, according to LIC.

LIC dividend

LIC’s board recommended a final dividend of Rs 3 per share for the financial year ended March 31, 2023, subject to shareholders’ approval.

LIC shares: Past performance

As of May 25, LIC shares have lost nearly 26 per cent of their value in one yea, sharply outperforming a over 13 per cent rise in the headline Nifty index.

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