Wednesday, Dec 11 2024 | Time 21:16 Hrs(IST)
image
Business EconomyPosted at: Nov 8 2024 8:35PM


LIC net profit dips 4 pc to Rs 7,621 crore in Q2

New Delhi, Nov 8 (UNI) State-owned insurer Life Insurance Corporation of India (LIC) on Friday reported 3.8% year-on-year decline in net profit to Rs 7,620.86 crore for July-September quarter of the current financial year 2024-25.
The company had posted a profit of Rs 7,925.02 crore in the Q2 of previous financial year 2023-24.
During the September quarter of FY25, the life insurer's net premium income rose 11.64% year-on-year to Rs 1,19,900.99 crore as compared to Rs 1,07,396.77 crore in the same period a year ago.
Commenting on the company's financial performance, Siddhartha Mohanty, CEO & MD, LIC said, "Our market share for H1FY25 has increased to 61.07% as compared to 58.50% for the same period of previous year and 58.87% for the full year ended March 31, 2024."
He further said, "We are committed to continue to play a significant role in the further development of the life insurance market with the support of all our stakeholders.”
LIC's profit for the half year ended September 30th, 2024 was Rs 18,082 crore as compared to Rs 17,469 crore for the half year ended September 30th, 2023 registering a growth of 3.51%.
UNI NK CS2035
Please log in to get detailed story.
Tags: #LIC net profit dips 4 pc to Rs 7#621 crore in Q2
More News

Jubilant Bhartia Group to pick up 40 pc equity stake in Hindustan Coca-Cola holdings

11 Dec 2024 | 5:43 PM

New Delhi, Dec 11 (UNI) The Jubilant Bhartia Group on Wednesday said that they have entered into a definitive agreement for a strategic investment whereby the Jubilant Bhartia Group will be acquiring a 40% equity interest in Hindustan Coca-Cola Holdings Private Limited, India (HCCH) through its entity Jubilant Beverages Limited.

see more..

Tata Power, Tivolt Electric Vehicles partner to strengthen EV Charging Infrastructure

11 Dec 2024 | 5:38 PM

New Delhi, Dec 11 (UNI) Tivolt Electric Vehicles Private Limited (Tivolt), an EV venture of the Murugappa Group and a subsidiary of TI Clean Mobility, has signed a Memorandum of Understanding (MOU) with Tata Power Renewable Energy Limited (TPREL), a prominent EV charging solutions provider, to enhance e-mobility for commercial vehicles across the country.

see more..

Vodafone Idea adopts Nokia AI-powered MantaRay SON Solution

11 Dec 2024 | 5:35 PM

New Delhi, Dec 11 (UNI) Telecom equipment major Nokia today said it has successfully deployed its cutting-edge AI-powered MantaRay SON (Self-Organizing Networks) solution in Vodafone Idea’s (Vi) 4G and (soon to be launched) 5G networks across India, to ensure seamless, high-capacity and energy efficient connectivity for Vi customers.

see more..

Kottayam-Kochi Rubber market rates

11 Dec 2024 | 5:13 PM

Kottayam Dec 11 (UNI) Following were the Rubber Market rates per quintal announced by the Rubber Board here on Wednesday.

see more..

Linux Foundation launches LF India to expand global open source support and innovation

11 Dec 2024 | 4:58 PM

Chennai, Dec 11 (UNI) The Linux Foundation, the nonprofit organization enabling mass innovation through open source, on Wednesday announced the establishment of the LF India to expand global open source support and innovation.

see more..
image