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LIC books nearly Rs 43,000 cr profit from sale of investments during Apr-Dec of FY22

Profit from sales of investments, largely equity assets, were already 93 percent of the record profits amassed by the life insurer of Rs 46,187 crore in FY21.

April 27, 2022 / 02:55 PM IST

Life Insurance Corporation of India (LIC) booked profit worth Rs 42,862 crore from the sale of investments in the first nine month of the fiscal year 2022, showed the insurer’s revised draft papers for its initial public offering.

Profit from sale of investments, largely equity assets, were already 93 percent of the record profits amassed by LIC of Rs 46,187 crore for the financial year ended March 31, 2021.

Between April 1, 2021-December 31, 2021, both Sensex and Nifty rose 18 percent each while both declined 1.5 percent in the December quarter.

Also read: LIC IPO is right-sized and will not crowd out capital and monetary supply, says DIPAM secretary