Life Insurance Corporation of India climbs on reporting a many-fold jump in Q3 consolidated net profit!
Life Insurance Corporation of India (LIC) reported results for the third quarter that ended on December 31, 2022 (Q3FY23).
On a consolidated basis, the company has reported a many-fold jump in its net profit at Rs 8,348.71 crore for Q3FY23 as compared to Rs 211.30 crore for the same quarter in the previous year. The total income of the company increased by 12.97% to Rs 1,97,663.01 crore for the quarter under review as compared to Rs 1,74,972.74 crore for the same quarter in the previous year.
Stock price movement of Life Insurance Corporation of India Limited
Today, the stock opened at Rs 629.00, with a high and low of Rs 639.90 and Rs 618.00. The stock closed trading at Rs 620.10, up by 1.10%t. The BSE group 'A' stock has a face value is Rs 10.
In the last 6 months, the shares of the company have given about -9% returns and on a YTD basis, the stock has given about -12 per cent returns.
The stock has a 52-week high of Rs 920.00 and a 52-week low of Rs 582.45. The company has a ROCE of 133% and an ROE of 45.3% with a market capitalisation of Rs 3,92,054 crore.
About the company
Life Insurance Corporation (LIC) is the largest insurance provider company in India. It has a market share of above 66.2% in new business premiums. The company offers participating insurance products and non-participating products like unit-linked insurance products, saving insurance products, term insurance products, health insurance, and annuity & pension products. LIC, owned by the Government of India, is India's largest life insurance company with a history of over 65 years and a 61.6% market share in terms of premiums
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