LIC on Friday reported a 3.8 per cent decline in net profit at ₹7,621 crore for the quarter ended September 30 on lower other income and amortisation of ₹464 crore due to an increase in family pension. The insurer had reported a net profit of ₹7,925 crore in the year-ago period.
Net premium income eased to ₹1,19,901 crore in the second quarter of the current fiscal from ₹1,07,397 crore in the same period a year ago.
Other income of the insurer almost halved to ₹145 crore from ₹248 crore in the same quarter of the previous year.
However, total income rose to ₹2,29,620 crore in the latest September quarter compared with ₹2,01,587 crore in the year-ago period.
Total expenses rose to ₹2,22,366 crore from ₹1,94,335 crore in the same period a year ago.
Vedanta net at ₹4352cr
Mining conglomerate Vedanta Ltd on Friday reported a consolidated net profit of ₹4,352 crore in the September 2024 quarter.
However, the company had posted a consolidated net loss of ₹1,783 crore in the year-ago period.
Consolidated income declined to ₹38,934 crore in the July-September quarter from ₹39,585 crore a year ago,according to a regulatoryfiling.
Ola Electric loss
Ola Electric Mobility on Friday reported a narrowing of consolidated net loss at ₹495 crore for the second quarter ended September 30, aided by higher sales.
The Bengaluru-based firm had reported a net loss of ₹524 crore in July-September FY24. Revenue from operations rose to ₹1,214 crore from ₹873 crore.
During the quarter, sales increased 74 per cent year-on-year to 98,619 units against 56,813 units in the same period last year.
