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Wage hikes drag down LIC profit to ₹13,762 cr in Q4
The New Indian Express
|May 28, 2024
Insurer reports better business performance, margin, asset quality
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1 ENS ECONOMIC BUREAU @ Mumbai The country's largest life insurer and the financial powerhouse LIC said a massive wage hike has whittled down its better business performance including new business income and margin along with better asset quality, leading to only a marginal rise in net income at 13,762 crore in the March quarter. But the management sounded confident of better show in FY25 given the uptick in the new business in the first two months of the year.
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