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regular-article-logo Friday, 22 November 2024

LIC profit slips 4 per cent to Rs 7,621 crore, Vedanta posts profit; Ola Electric narrows loss

Net premium income eased to Rs 1,19,901 crore in the second quarter of the current fiscal from Rs 1,07,397 crore in the same period a year ago

PTI New Delhi Published 09.11.24, 11:09 AM
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Representational image File image

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.

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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.

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