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Life Insurance Corp. of India's fiscal Q3 net profit drops 19.4% YOY

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Life Insurance Corp. of India's fiscal Q3 net profit drops 19.4% YOY

Life InsuranceCorp. of India's net profit for the fiscal third quarter ended Dec.31, 2015, sank 19.4% year over year to 22.8 million rupees from 28.3 millionrupees.

Premiums earned rose to 618.02 billion rupees from 539.16billion rupees in the prior-year period. The insurer's operating expensesrelated to the insurance business declined to 52.40 billion rupees from 57.18billion rupees.

For the nine months to Dec. 31, 2015, net profit dipped to183.4 million rupees from 186.2 million rupees in the prior-year period.

As of Feb. 10, US$1was equivalent to 67.87 Indian rupees.