India's largest insurer Life Insurance Corporation (LIC) of India on Monday reported a consolidated net profit of Rs 2,409.39 crore for the quarter ended March 2022, down 17.41 per cent from Rs 2,917.33 crore recorded in the corresponding period of the previous year.
For the full financial year 2021-22, the government-run insurer posted a net profit of Rs 4,043.12 crore, which is 39.4 per cent higher as compared to Rs 2,900.56 crore recorded in 2020-21.
LIC's total revenue rose by 11.64 per cent year-on-year to Rs 2,11,471 crore in the fourth quarter of the financial year ended March 2022 as compared to Rs 1,89,176 crore in the corresponding quarter of the previous year.
LIC Board at its meeting held on Monday approved the financial results for the quarter and year ended March 31, 2022.
The company's Board of Directors recommended a dividend of Rs 1.50 per equity share with a face value of Rs 10 each for the year ended March 31, 2022.
( With inputs from ANI )
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