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LIC Q3 results: Net profit surges multi-fold to Rs 6,334.19 crore

LIC earned a total premium of Rs 37,545 crore on an APE (annualised premium equivalent) basis for the nine months ended December 31

LIC Q3 profit rises to Rs 6,334 cr due to transfer to shareholders account
premium

Last month, LIC clarified that it has invested Rs 36,474.78 crore so far in the group through both equity and debt

Subrata Panda Mumbai
State-owned Life Insurance Corporation (LIC) reported a manifold increase in its net profit in the December quarter (Q3) of financial year 2022-23 (FY23), aided by a transfer of Rs 5,670 crore from non-participatory to shareholders’ accounts. Its net profit in Q3 stood at Rs 6,334.19 crore, compared with Rs 234.91 crore in the year-ago period.

In the nine-month period (April-December FY23), the corporation’s profits soared to Rs 22,970 crore, compared with Rs 1,672 crore a year ago. The huge jump was because of the transfer of Rs 19,941 crore to shareholder accounts over the last four quarters.

LIC reported a