In its first earnings launch publish the itemizing, state-run insurance coverage behemoth Life Insurance coverage Company Ltd. posted standalone web revenue of 2,371 crore within the three months to March, down 18% over final 12 months.
The Board has really useful dividend of 1.50 per fairness share.
The corporate’s web premium revenue through the quarter rose 18% to 1.43 lakh crore.
Earlier through the day, forward of the outcomes announcement, LIC’s scrip closed 1.81% greater at 836.50 on NSE.
LIC shares are down greater than 15% from its IPO situation worth. LIC made its inventory market debut earlier this month on Could 17, 2022.
LIC IPO, India’s largest until date, had closed with almost 3 instances subscription, predominantly lapped up by retail and institutional patrons, however international investor participation remained muted. The federal government offered over 22.13 crore shares or a 3.5% stake in LIC by means of the preliminary share sale.