BENGALURU (Reuters) – Life Insurance Corporation of India, the country’s biggest insurer reported a 17% rise in third-quarter profit on Friday, helped by a fall in employee-related expenses.
LIC’s profit after tax rose to 110.56 billion rupees ($1.26 billion) for the quarter ended December 31 from 94.44 billion rupees a year earlier.
Employee compensation and welfare expenses dropped 30% on year to 66.91 billion rupees.
($1 = 87.4790 Indian rupees)
(Reporting by Nishit Navin; Editing by Mrigank Dhaniwala)
Disclaimer: This report is auto generated from the Reuters news service. ThePrint holds no responsibility for its content.