Shares of LIC on Tuesday declined by more than 3% after the company posted a 17% decline in consolidated net profit for the fourth quarter ended March.
The stock declined 3.05% to settle at ₹811.50 on the BSE. During the day, it tanked 3.23% to ₹810.
At the NSE, it fell by 3.21% to end at ₹810.85.
In volume terms, 2.22 lakh shares were traded at the BSE and over 43.73 lakh shares at the NSE during the day.
Insurance behemoth LIC on Monday posted a 17% decline in consolidated net profit to ₹2,409 crore for the fourth quarter ended March.
The insurer had earned a profit of ₹2,917 crore in the same quarter a year ago.
This is the first-ever quarterly result of LIC after being listed on bourses earlier this month.
The total income of the insurer during the March quarter increased to ₹2,12,230.41 crore, from ₹1,90,098 crore in the same period of the previous fiscal, LIC said in a regulatory filing.
LIC's income from first-year premium rose to ₹14,663.19 crore against ₹11,053.34 crore in the same quarter previous fiscal.
