NEW DELHI: State-owned insurer LIC on Friday reported a 50 per cent fall in net profit at Rs 7,925 crore for the quarter ended September 30, on lower income. The country’s biggest insurer had a net profit of Rs 15,952 crore in the year-ago period, LIC said in a regulatory filing.
Its net premium income eased to Rs 1,07,397 crore in the second quarter of the current fiscal, from Rs 1,32,631.72 crore in the same period a year ago.
LIC’s total income declined to Rs 2,01,587 crore in the latest September quarter, compared to Rs 2,22,215 crore in the year-ago period, it said.