LIC Q2 net profit slips 4% to Rs 7,621 crore

NEW DELHI: LIC on Friday reported a 3.8 per cent decline in net profit to Rs 7,621 crore for the quarter ended September 30, on lower other income.

The country’s biggest insurer had reported a net profit of Rs 7,925 crore in the year-ago period, it said in a regulatory filing.

LIC’s net premium income eased to Rs 1,19,901 crore in the second quarter of the current fiscal, from Rs 1,07,397 crore in the same period a year ago.

Other income of the insurer almost halved to Rs 145 crore from Rs 248 crore in the same quarter in the previous year.

However, total income rose to Rs 2,29,620 crore in the latest September quarter, compared to Rs 2,01,587 crore in the year-ago period, it said.