Life Insurance Corporation of India i.e. LIC may get an amount of Rs 25,464 crore in the fourth quarter of the current financial year. This information was given by the company’s chairman Siddharth Mohanty. Last month, a notification for refund of Rs 25,464.46 crore was issued by the Income Tax Appellate Tribunal (ITAT) of the Income Tax Department.
Mohanty further said that we were working on this matter for some time. We hope to get the refund during the current quarter. Let us tell you, this refund is linked to the interim bonus of the policy holder.
LIC launched many new products
New products were launched by LIC in the last quarter. This includes many new products along with LIC Jeevan Utsav, Index Plan. This has helped the company a lot in getting new business. Along with this, LIC is working to launch many new products with child protection in the current quarter.
LIC December quarter results
In the December quarter results of LIC, the company’s profit has seen an increase of 49 percent. During this period, the company has made a profit of Rs 9,444 crore, which was earlier Rs 6,334 crore. The company’s net premium income has increased to Rs 1,17,017 crore. It was Rs 1,11,788 crore in the same quarter last year. The total income of LIC has also increased to Rs 2,12,447 crore. Earlier it was Rs 1,96,891 crore. The company has declared a dividend of Rs 4 per share in the December quarter.
Let us tell you that in the recent past, there has been a tremendous rise in the shares of LIC. The stock has given a return of 30 percent in the last one month. The stock had closed at Rs 1,084 per share on NSE on Friday.
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