Mumbai. The country's largest insurance company LIC has released its results for the first time after listing which says that in the January-March quarter of the financial year 2021-22, the company's net profit has come down by 18% to Rs 2371 crore. The company's net profit was Rs 2917.33 crore in the same quarter a year ago. However, in the quarter, the company's premium income grew by 18% to Rs 1.44 lakh crore. At the same time, in the same period a year ago, the company's income was Rs 1.22 lakh crore.

Dividend also declared

LIC has decided to give dividend to its investors. Investors will get a dividend of Rs 1.50 per share. LIC launched its Rs 21,000 crore IPO on 17 May. The listing of LIC shares in the market was done with a discount. LIC's stock was listed on NSE at Rs 77, i.e. 8.11% down at Rs 872. At the same time, it was listed at 867 on BSE. Since the issue price of the IPO, the share price of LIC has fallen by 15%. The government has garnered around Rs 21,000 crore by selling its 3.5% stake in LIC.

When a company distributes a part of its profits to the shareholders, it is called dividend. Some companies keep giving some part of their profits from time to time to their shareholders. They give this part of the profits to the shareholders as a dividend.

Shares shoot up

Along with the stock market, there has been a rise in the stock of LIC. Its share closed at Rs 837.05 on Monday, up by Rs 15.50 (+1.89%). After good results, its stock is expected to rise in the coming days.