Life Insurance Corporation (LIC) on Friday reported a multi-fold improve in internet earnings to Rs 682.88 crore for the quarter ending June in comparison with a revenue of Rs 2.94 crore in Q1FY22. It could also be recalled that enterprise exercise within the nation had come to a digital standstill within the June 2021 quarter in the course of the second wave of the Covid pandemic. Seen sequentially, LIC’s efficiency was much less spectacular because the insurer had posted earnings of Rs 2,371.55 crore within the three months to March.
The whole revenue stood at Rs 1.68 trillion as in opposition to Rs 1.54 trillion within the year-ago interval, LIC mentioned. Total revenue stood at Rs 2.11 trillion in March quarter. The internet premium revenue throughout Q1FY23 of Rs 98,351.76 crore, was about 20 per cent larger y-o-y. On a sequential foundation, internet premium was decrease by about 32 per cent.
The first-year premium for the reporting quarter got here in at Rs 7,429 crore as in opposition to Rs 5,088 crore within the year-ago interval. FE
