LIC Profit Jumps 10% to Rs 10,461 Crore in Q1 - Business News
Life Insurance Corporation of India (LIC) reported a 10% rise in net profit to Rs 10,461 crore in the June 2024 quarter, driven by growth in premiums and investments.
Photograph: Uttam Ghosh/Rediff.com
New Delhi, Aug 8 (PTI) Life Insurance Corporation of India (LIC) on Thursday reported a 10 rise in its net profit to Rs 10,461 crore in the June 2024 quarter.
The state-owned life insurance behemoth had a net profit of Rs 9,544 crore in the year-ago period.
The total income increased to Rs 2,10,910 crore during the latest June quarter as against Rs 1,88,749 crore in the year-ago period, LIC said in a regulatory filing.
During the quarter under review, the first-year premium rose to Rs 7,470 crore as against Rs 6,811 crore in the year-ago period, it said.
The insurer earned Rs 56,429 crore from renewal premiums as against Rs 53,638 crore a year ago.
Net income from investments during the quarter rose to Rs 96,183 crore as compared to Rs 90,309 crore in the April-June period of previous fiscal.
Solvency margin of LIC increased to 1.99 per cent as compared to 1.89 per cent in the same quarter a year ago.
The state-owned life insurance behemoth had a net profit of Rs 9,544 crore in the year-ago period.
The total income increased to Rs 2,10,910 crore during the latest June quarter as against Rs 1,88,749 crore in the year-ago period, LIC said in a regulatory filing.
During the quarter under review, the first-year premium rose to Rs 7,470 crore as against Rs 6,811 crore in the year-ago period, it said.
The insurer earned Rs 56,429 crore from renewal premiums as against Rs 53,638 crore a year ago.
Net income from investments during the quarter rose to Rs 96,183 crore as compared to Rs 90,309 crore in the April-June period of previous fiscal.
Solvency margin of LIC increased to 1.99 per cent as compared to 1.89 per cent in the same quarter a year ago.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Jaiprakash Power Ven
- 22.66 (+ 19.58)
- 112472108
- PC Jeweller L
- 18.72 (+ 12.03)
- 74297494
- Enbee Trade & Fi
- 0.57 ( -5.00)
- 48058009
- RattanIndia Power
- 15.92 (+ 7.93)
- 43917543
- Vodafone Idea L
- 7.30 ( -0.82)
- 35836953
MORE NEWS
© 2025 Rediff.com India Limited. All rights reserved. Disclaimer - Terms of Service - Privacy Policy - Feedback