LIC Q4 profit soars 38% to Rs 19,013 crore; stake acquisition in health insurer to be decided in 2-3 months

Life Insurance Corporation of India announced a significant profit increase. The net profit rose by 38% in the fourth quarter. This is due to reduced management expenses. Renewal premiums increased, offsetting a slight dip in first-year premiums. LIC plans to acquire a stake in a health insurer. The board recommended a dividend of Rupees 12 per share.