Shares of India’s largest insurance company, the Life Insurance Corporation of India (LIC), ended 3 per cent higher on Friday after the firm reported a rise in profit of 5 per cent during the June quarter.
LIC had reported on Thursday a net profit of ₹10,987 crore for the first quarter, while expressing confidence of recording double-digit growth in bottomline in FY26.
In the first quarter of 2024-25, the LIC had reported a net profit of ₹10,461 crore.
The total income increased to ₹2,22,864 crore during the latest June quarter, as against ₹2,10,910 crore in the year-ago period, LIC said in a regulatory filing.
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The company’s stock ended at ₹912.55, up 3.06 per cent, on the BSE on Friday. During the day, it climbed 4.69 per cent to ₹927.
At the NSE, shares of the firm went up 2.91 per cent to settle at ₹910.80 after jumping 4.75 per cent to ₹927.10 in intra-day trade.
In traded volume terms, 3.36 lakh shares of the firm were traded on the BSE and 45.32 lakh shares on the NSE during the day.
The firm’s newly-appointed CEO and MD, R Doraiswamy, said that they remained focused on enhancing profitability.
“We would be reaching a respectable level and expect double-digit growth in profits during the current financial year,” he said.
In the June quarter, the first-year premium rose to ₹7,525 crore, compared to ₹7,470 crore in the same period last year, while during the last financial year, the insurer earned a profit of ₹48,151 crore, compared to ₹40,676 crore in the previous fiscal year, registering an 18 per cent growth.
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