Mumbai: Enhanced with a large leap in premiums and income from investment, Major Lic life insurance witnessed a large surge in its net profit to Rs 1,437 Crore during the April-September Fiscal Year 2022 (H2FY22), compared with only RS 6.1 Crore so far the period the same from the previous fiscal.
The total income for H2FY22 is Rs 1,452 Crore, compared to Rs 9.7 Crore a year earlier.
This is the first time major life insurance announces its financial results.
LIC is expected to submit a draft prospectus immediately to the public through the IPO, which is placed to become the largest public offering in Indian capital market history.
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