Life Insurance Corporation of India (LIC) reported a 10% increase in net profit to Rs 10,461 crore for the June 2024 quarter, up from Rs 9,544 crore a year ago. Total income rose to Rs 2,10,910 crore, driven by a rise in first-year premiums to Rs 7,470 crore and renewal premiums to Rs 56,429 crore. Net investment income also grew to Rs 96,183 crore. LIC’s solvency margin improved to 1.99% from 1.89% last year. The strong profit growth and improved solvency margin signal financial stability and might enhance investor confidence in LIC’s stock.
LIC Reports 10% Increase in Q1 Net Profit to Rs 10,461 Crore
