The shares of state-run Life Insurance corporation on Friday (August 9) gave up most of their early gains, closing nearly 1 per cent higher on Friday. At 3:30 PM IST, the shares of the firm closes at Rs 1,136.60 apiece, up by 0.98 per cent or 11.00 points.
Share performance |
In the early morning session, the shares of the company surged by 1.10 per cent reaching Rs 1,140.00 apiece, following the announcement of the company’s standalone and consolidated financial results for the quarter ending June 30th, 2024 released on August 8.
The shares of the company opened at Rs 1,155.00 apiece on Friday. At 9:32 am IST, the shares were trading at Rs 1.61 per cent, reaching 1,143.60 apiece.
Meanwhile, on Thursday, the shares of the company closed nearly flat at Rs 1,124 apiece.
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Financial Highlights
In the Q1FY25 results released by the company on August 8, LIC reported an increase in its Profit After Tax (PAT) by 9.61 per cent to Rs 10,461 crores compared to Rs 9,544 crore for the same period previous year.
As per the exchange filings, in Q1FY25, the overall market share of the company stood at 64.02 per cent. In terms of individual business segment, the company has a market share of 39.27 per cent and in group business segment, it dominates with a 76.59 share.
The total premium income for the quarter stood at Rs 1,13,770 crore. The individual business premium of the company grew by 7.04 per cent to Rs 67,192 crore. Similarly, the Group Business Premium increased by 30.87 per cent to Rs 46,578 crore during the quarter.
Furthermore, the company sold 35,65,519 policies in the individual segment, a 10.86 per cent surge from the previous year.
On an Annualised Premium Equivalent (APE) basis, the total premium in this quarter reached Rs 11,560 crore where individual business contributed 58.37 per cent and group business accounted for 41.63 per cent.
The solvency ration of the company also increased to 1.99 in Q1FY25.
The company Asset Under Management (AUM) increased by 16.22 per cent to Rs 53,58,781 crore. In addition, the overall expense ratio also fell by 98 basis points to 11.87 per cent in Q1FY25.
