LIC's Q4 net profit falls 18% to Rs 2,372 cr, firm declares Rs 1.5 dividend

In FY22, LIC reported a net profit of Rs 4,043.12 crore from Rs 2,900.56 crore in FY21, up 39.4 per cent on a year-on-year (YoY) basis

State-run insurance giant Life Insurance Corporation (LIC) of India has reported a net profit of Rs 2,371.55 for the January-March quarter of the financial year 2021-22, down 18 per cent compared to the net profit of Rs 2,893 crore in the corresponding period of the previous fiscal.

LIC has clarified that the profit figure for the fourth quarter of FY21 pertains to the full year. Hence, net profit reported in Q4FY22 and Q4FY21 is not comparable.

“LIC’s Q4FY21 profit of Rs 2,893 crore pertains to the full year since LIC was conducting actuarial valuation once in a year until that year. Therefore,