LIC reported its first financial result after listing. It reported a profit of ₹4,043.12 crores in 2021-22 compared to ₹2,900.57 crores in FY21.

Ahead of its initial public offering Life Insurance Corp. (LIC) of India had said that it had mark-to-market losses of ₹6,028 crores.

The value of LIC’s loss-making investments has to reflect in its income statement by 31 Jan 2023.

Does this mean LIC does not consider losses while calculating profit.?