LIC Q3 Results: The stock of Life Insurance Corporation (LIC), the largest public sector insurance company, has reached a record high in Thursday's trading session. On the other hand, the company has declared the results of the third quarter of the financial year 2023-24 in which there has been a strong jump in profits. LIC has made a profit of Rs 9,444 crore during the October-December quarter, which was Rs 6334 crore in the same quarter of the last financial year. LIC has also announced a dividend of Rs 4 per share to its shareholders.
While announcing the financial results of the third quarter, LIC said that it has received a total premium of Rs 1.17 lakh crore during this period, which is 5 percent more than the same quarter last year. In the same quarter of the last financial year, premium of Rs 1.11 lakh crore was received. LIC's profit has increased by 49 percent to Rs 9,444 crore. The company's board has also announced a dividend of Rs 4 per share to the shareholders. This dividend will be given to the shareholders within the next 30 days.
LIC is the largest insurance company in the country with 58.90 percent share in the life insurance business. By December 2023, LIC's AUM has reached Rs 49.66 lakh crore. Which was Rs 44.34 lakh crore till the same period last year.
LIC is also in the news due to the rise in the company's shares. On Thursday, LIC stock reached a lifetime high of Rs 1145. At the time of market closing, the stock closed at Rs 1105.25. The market cap of LIC has reached Rs 6.99 lakh crore. LIC has become the fifth largest listed company in terms of market value and is just a few steps away from Infosys. LIC's stock has increased by 80 percent in the last three months and by 34 percent in one month.
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