Get all your news in one place.
100’s of premium titles.
One app.
Start reading
The Times of India
The Times of India
Business
PTI

LIC's net income jumps manifold to Rs 8,334.2 crore in Q3

MUMBAI: Public sector insurer LIC on Thursday reported manifold jump in net income at Rs 8,334.2 crore during the three months ended December 2022 as against Rs 235 crore a year ago.

The Life Insurance Corporation (LIC) earned Rs 1,11,787.6 crore in net premium income during the reporting quarter as against Rs 97,620.34 crore in the year-ago period, it said in a regulatory filing.

The numbers are strictly not comparable as the insurer was not a publicly traded company earlier.

LIC's income from investments rose to Rs 84,889 crore from Rs 76,574.24 crore a year ago, the filing said.

Its investments into the crisis-ridden Adani Group has been under tremendous criticism even though the value of the investment of close to Rs 36,000 crore are still in the green despite those shares losing almost 60 per cent of their value since January 25.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.