The world’s largest insurer only made a net profit of Rs. 682.9 billion for the June quarter.The business stated in its statement on Friday that the significant increase is the result of a change in its accounting approach. The company’s first-year premium, a measure of business growth, increased from Rs. 8,198.30 crores to Rs. 9,124.7 crores during the third quarter of last year.In this quarter, as opposed to the same period last year, net premium income was Rs 1.32 lakh crore as opposed to Rs 1.04 lakh crore. The renewal premium for LIC grew by 2% to Rs 56,156 crore, while the single premium surged by 62 % to Rs 66,901 crore.Source:- Business StandardAccording to Emkay Global, LIC would post a 19% YoY decline in net profit this quarter as compared to Rs 1,504 crore in the same period last year.APE would increase by 15% YoY to Rs 13,286.50 crore from Rs 11,548.80 crore, while VBN will increase by 17% YoY to Rs 1,854.10 crore from Rs 1,583 crore, it was noted. The VBN margin was projected to be 13.95%, up 24 bps from 13.71% YoY. In advance of the results, the company’s shares closed 1.17 percent higher on Friday at Rs 628.05.So if you are looking to invest in LIC or rather take a Life insurance policy, this would be the best time to do that.
