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- LIC reported a 466% year-on-year jump in net profit at Rs 13,428 crore for the fourth quarter that ended March 31, 2023.
- The total income of the insurer for the period under review declined to Rs 2,01,022 crore from Rs 2,15,487 crore in the year-ago period.
- Key takeaways:
- The jump in net profit was due to a number of factors, including lower claims and higher investment income.
- The decline in total income was due to lower premiums and higher expenses.
- The jump in net profit is a positive sign for LIC.
- The decline in total income is a concern, but it is not unexpected given the current economic conditions.