LIC’s share price continued to gain for the fourth straight day on Thursday as the company posted its earnings for the quarter ended March.

What Happened: The insurance behemoth’s consolidated net premium income stood at ₹1.32 lakh crore down 8.4% from the ₹1.44 lakh crore income it reported in the same quarter last year. On the other hand, the company’s net profits grew multifold to ₹13,190.8 crore as against ₹2,409.4 crore.

During the review quarter, LIC’s first-year premium amounted to ₹12,811 crore, a 12% decline compared to ₹14,614 crore recorded in the corresponding quarter of the previous year. Income from investments experienced a slight increase, reaching ₹67,846 crore for the January-March period, as opposed to ₹67,498 crore in the same period last year.

See Also: What Is Reliance Jio's Share Price And How To Buy

The insurer also announced a ₹3/share dividend for the year ended March. The record date for the dividend payment is July 21. Earnings per share for the quarter stood at ₹20.86.

The company has had a difficult time at the bourses since listing. LIC’s share price is down over 25% from its listing price. Since the start of the yea,r shares of the company have slumped close to 15%.

Price Action: LIC’s share price was up 2.73% to trade at ₹610.10 as the markets opened on Monday.

Read Next: Top 10 Richest People In India In April 2023