Life Insurance Corporation (LIC) said that its board will meet on 30 May 2022 to consider and approve the audited standalone and consolidated financial results for the quarter and year ended 31 March 2022.
On the same day, the board will also consider and approve dividend, if any, for FY22.
The scrip advanced 1.42% to Rs 828.45, amid some bit of bargain buying. The stock had declined 6.78% in the past three sessions.
Shares of LIC debuted on the bourses on 17 May 2022. The scrip was listed at Rs 867.20, representing an 8.62% discount to the issue price of Rs 949.
The stock is currently trading 12.70% lower as compared to its issue price.
LIC has been providing life insurance in India for more than 65 years and is the largest life insurer in the country, with a 61.6% market share in terms of premiums (or GWP), a 61.4% market share in terms of New Business Premium (or NBP), a 71.8% market share in terms of number of individual policies issued, a 88.8% market share in terms of number of group policies issued for the nine months ended 31 December 2021.
On a consolidated basis (shareholders account), LIC reported a net profit of Rs 1715.31 crore and net premium earned was Rs 285,341.93 crore in the nine months of the financial year 2021-22. Income from investments for the period under review was Rs 226,253.73 crore.
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