Life Insurance coverage Company (LIC) on Monday reported an 18 per cent decline in its standalone web revenue to Rs 2,371.55 crore, in contrast with Rs 2,893.48 crore within the corresponding quarter final 12 months. Its web premium revenue throughout January-March 2022 stood at Rs 1.43 lakh crore, 18 per cent increased as towards Rs 1.21 lakh crore within the year-ago interval.
LIC has declared a dividend of Rs 1.50 per share for the monetary 12 months 2021-22. “The board of administrators of the Company has advisable dividend of Rs 1.50 per fairness share with face worth of Rs 1O every for the 12 months ended March 31, 2022, which is topic to approval of shareholders in AGM (annual normal assembly),” the state-owned firm mentioned in a regulatory submitting on Monday.
On a consolidated foundation, LIC’s web revenue throughout the March 2022 quarter declined 17.41 per cent to Rs 2,408.39 crore within the March 2022 quarter, in contrast with Rs 2,917.33 crore within the corresponding quarter final 12 months. Its web premium revenue throughout January-March 2022 stood at Rs 1.44 lakh crore, increased as in contrast with Rs 1.22 lakh crore within the year-ago interval.
Earlier this month, Life Insurance coverage Company (LIC) issued its preliminary public providing (IPO) that witnessed a great response from members, because it was subscribed 2.95 occasions. The bids obtained have been 47.83 crore towards the supply dimension of 16.21 crore. The LIC IPO’s worth band was mounted at Rs 902-949 per share and the corporate supplied a reduction of Rs 60 per share for its policyholders and Rs 45 apiece for retail traders and LIC staff.
Nevertheless, the state-owned firm noticed its debut itemizing at low cost on inventory markets on Could 17, its market capitalization (m-cap) fell by about Rs 47,000 crore to Rs 5.53 lakh crore as in contrast with the valuation of over Rs 6 lakh crore at its concern worth of Rs 949 per share.
LIC’s shares on Monday rose 16.15 factors, or 1.97 per cent, to shut at Rs 837.75 apiece on the BSE.