LIC Q1 results: PAT up 10% at Rs 10,461 cr, total income at Rs 2.1 trn

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.