Kathmandu. India’s largest insurance company LIC, which has entered the Guinness World Records by selling a record-breaking number of insurance policies in a single day, has released its fourth quarter results.
Announcing the results, LIC reported a net profit of Rs 190.13 billion in the January-March quarter. This shows an increase of 38 percent year-on-year. In the previous financial year, LIC’s net profit was Rs 137.63 billion.
In addition to announcing the results, LIC has also announced a dividend of Rs 12 per share to shareholders for FY25. The record date for this has been fixed for July 25.
Despite the increase in net profit, the company’s net income declined in the March quarter compared to the previous financial year. In the review period, the income decreased to Rs 2,416.25 billion from Rs 2,509.23 billion in the previous year. The company has said that the net premium income has decreased due to the decrease in revenue.
On January 20 this year, LIC entered the Guinness World Records by selling a record number of policies in a single day. In just 24 hours, the company’s 452,839 agents sold 588,107 life insurance policies across India. – Agency
