LIC Shares Dip as Q2 FY24 Results Reveal Revenue Decline of 9.2%

13 Nov 2023 , 11:36 AM

LIC’s share price dropped by up to 1.49% on BSE following the Q2 FY24 results announced on November 10, 2023. The Q2 results revealed a 9.2% decrease in revenue and a significant 49.35% decline in profit YoY.

Compared to the previous quarter, revenue showed a modest 6.85% growth, while profit decreased by 16.65%. Selling, general & administrative expenses witnessed a notable 55.58% sequential rise but decreased by 41.47% YoY.

Operating income experienced a 12.36% sequential decline and a substantial 50.1% YoY decrease. As per available data, The Earnings per share (EPS) stood at ₹12.77 for Q2 FY24, reflecting a 42.51% YoY reduction.

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