In its first earnings release post shares listing, LIC posted a 17% decline in consolidated net profit to ₹2,409 crore for Q4 from ₹2,917 crore in the same quarter a year ago. “Despite a dip in Q4 net profit, LIC is a quality stock with strong fundamentals. Its solvency ratio rose, however, 13-month persistency ratio fell during the fourth quarter. “LIC shares on Tuesday's intraday trade after it reported a decline in consolidated net profit in the Q4. LIC shares, that made market debut on May 17, 2022, are down more than 15% from its IPO issue price.

Source: Mint May 31, 2022 06:10 UTC